3. Meijer Inc. is considering the acquisition of some new labor saving equipment. The managemet team determined that the equipment will cost $75,000 and will produce the following saving in cash operating costs over the next five years: year 1, $25,000; year 2, $20,000; year 3, $20,000; year 4, $15,000; year 5, $10,000. The company uses the net present value method to analyze investments and desires a minimum rate of return of 10% on projects of less than 5 years and 12% on projects that are more 5 years or more. (5 points) > Compute the net present value of the proposed investment. > Considering the time value of money, should Meijer acquire the new equipment? Why