Assume that a company is considering buying a new piece of equipment for $280,000 that would have a useful life of five years and a salvage value of$45,000. The equipment would generate the following estimated annual revenues and expenses:

Revenues $120,000.

Operating expenses:

Commissions $15,000

Insurance $5,000

Depreciation $47,000

Maintenance $30,000

Total expenses $97,000

Net Operating Income $23,000

  determine the appropriate discount factor(s) using the tables provided. The company also believes that this investment would provide some annual intangible benefits that are difficult to quantify.