Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.): 7 years Useful life Yearly net cash inflow Salvage value Internal rate of return Required rate of return $ 60,000 $ 0 14% 10% Click here to view Exhibit 14B-1 and Exhibit 14B-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 $267,630 Cannot be determined from the given information