Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.): 11 years Useful life Yearly net cash inflow Salvage value Internal rate of return Required rate of return $40,000 $ 0 13% 9% Click here to view Exhibit 7B-1 and Exhibit 7B-2, to determine the appropriate discount factor(s) using the tables provided. The initial cost of the equipment is closest to