Blender Inc. purchased a new piece of equipment that cost $120,000. The equipment will be used for 10 years and will have a salvage value of $10,000. The annual operating cash inflows will be $45,000, and the annual operating cash outflows will be $30,000. The tax rate is 21%, and the company requires an after-tax rate of return of 8%. Calculate the net present value (NPV) of the equipment. a. $73,051 b. $(20,353) c. $68,419 d. ($17,384) I got C wrong, and B is supposed to be correct, but I need help solving the problem.

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A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.