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 4 years $ 40,000 $ 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 $120,100 Cannot be determined from the given information. $116,560 $126,910 The following data pertain to an investment proposal (Ignore income taxes.): Cost of the investment Annual cost savings Estimated salvage value Life of the project Discount rate $53,300 $ 16,000 $ 6,000 5 years 10% The net present value of the proposed investment is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.) Multiple Choice $8,882 $8,382 O $11,082 O $9,624