Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.):

Useful life		10	years
Yearly net cash inflow	$	40,000
Salvage value	$	0
Internal rate of return		15	%
Required rate of return		11	%

Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.

The initial cost of the equipment is closest to:

Multiple Choice

• $360,100

• $200,760

• $211,110

• Cannot be determined from the given information.