Croce, Inc., is investigating an investment in equipment that would have a useful life of 8 years. The company uses a discount rate of 11% in its capital budgeting. The net present value of the investment, excluding the salvage value, is ?$579,638. (Ignore income taxes.)Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.How large would the salvage value of the equipment have to be to make the investment in the equipment financially attractive?
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