Welch Corporation is planning an investment with the following characteristics (Ignore Income taxes.): Useful life Yearly net cash inflow Salvage value Internal rate of return Required rate of return 8 years $50,000 $ 0 15% 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