Looking for the net present value in this problem. Using excel if possible, but break down the formula in to specific parts (show your work). This will help with understanding how to solve this problem and similar problems like it.

Thank you!

The Sarasota Company is planning to purchase $486,000 of equipment with an estimated 7 -year life and no estimated salvage value. The company has projected the following annual cash flows for the investment: Click here to view the factor table. Calculate the net present value of the proposed equipment purchase. Sarasota uses a 7\% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971.)