ACME Corporation wants to purchase a piece of equipment for $100,000. It has a useful life of 5 years. There is no salvage value. The equipment will...

ACME Corporation wants to purchase a piece of equipment for $100,000. It has a useful life of 5 years. There is no salvage value. The equipment will save $30,000 each year in cost savings. What is the present value of the equipment? The discount rate is 12%. no taxes in this situation. No working capital needed.