Using the present value tables in Exhibits 26-3 and 26-4, Assume that the required rate of return for investment projects at Rippenstock Corporation is 12 percent. One department has proposed investment in new equipment with a 10-year life span and a present value of expected future annual cash flows of $120,000. The equipment's initial outlay cost is $125,000 and it has a salvage value of $10,000. Will this investment project meet the required rate of return for the company? (Round your "PV factors" to 3 decimal places.)
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