5 pts Question 18 Misty Mountain Shop is considering purchasing a new piece of equipment that would be used for 6 years. The cost savings from the equipment would result in an annual increase in cash flow of $200,000. The equipment will have an initial cost of $900,000 and a salvage value of $100,000 at the end of its useful life. If the discount rate is 8%, what is the approximate net present value of purchasing this new piece of equipment? $87,600 O $703,985 O $24.580 ($900,000) )