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 7 years $60,000 $ 0 148 108 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: Click here to view Exhibit 138-1 and Exhibit 138-2. to determine the appropriate discount factor(s) using the tables provided. The initial cost of the equipment is closest to: Multiple Choice $267,630 $360,100 $257.280 Cannot be determined from the given information