Problem 2 (Textbook Reference: P10-8) - Evaluate investme nt propos al using net present value Jordan Company is considering purchasing new equipment costing $2,400,000. Jordan estimates that the useful life of the equipment will be five years and that it will have a salvage value of $600,000. The company uses straight-line depreciation. The new equipment is expected to have a net cash inflow (before taxes) of $258,000 annually. Assume that the tax rate is 40% and that management requires a minimum return of 14%. Required: Using the net present vahue method, determine whether the equipment is an acceptable investment. ***Template provided on next page***