Net Present Value and Competing Projects Follow the format shown in Exhibit 123.1 and Exhibit 123.Z as you complete the requirements below, Spiro Hospital is investigating the possibility of investing in new dialysis equipment. Two local manufacturers of this equipment are being considered as sources of the equipment. After-tax cash inflows for the two competing projects are as follows: Year Puro Equipment Briggs Equipment $120,000 1 $320,000 120,000 2 280,000 320,000 3 240,000 400,000 4 160,000 120,000 440,000 5 Both projects require an initial investment of $500,000. In both cases, assume that the equipment has a life of 5 years with no salvage value Required: