111. (Calculating NPV) (Related to Checkpoint 11.1 on page 367) Midland Metal Ltd. is considering building a new factory to produce special metal frames for boat manufacturers. This project will require an initial cash outlay of 12,000,000 and will generate annual net cash inflows of 2,500,000 per year for six years. There will be no salvage value associated with the project at the end of this period. Calculate the projects NPV for each of the following discount rates: a. 8 percent b. 10 percent c. 12 percent d. 16 percent