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 11 years $50,000 0 16% 12% 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: Multiple Choice $261,800 $500,100 $251,450 Cannot be determined from the given information