\begin{tabular}{|c|c|c|c|c|} \hline & A & & B & C \\ \hline 1 & \multicolumn{4}{|l|}{ Chapter 12: Applying Excel } \\ \hline \multicolumn{5}{|l|}{2} \\ \hline 3 & Data & & & \\ \hline 4 & Example E & & & \\ \hline 5 & Cost of equipment needed & $ & 340,000 & \\ \hline 6 & Working capital needed & $ & 25,000 & \\ \hline 7 & Overhaul of equipment in four years & $ & 30,000 & \\ \hline 8 & Salvage value of the equipment in five years & $ & 25,000 & \\ \hline 9 & \multicolumn{4}{|l|}{ Annual revenues and costs: } \\ \hline 10 & Sales revenues & $ & \multicolumn{2}{|l|}{360,000} \\ \hline 11 & Cost of goods sold & $ & \multicolumn{2}{|l|}{210,000} \\ \hline 12 & Out-of-pocket operating costs & $ & 60,000 & \\ \hline 13 & Discount rate & & 12 & % \\ \hline \end{tabular} a. What is the net present value of the project? (Negative amount should be indicated by a minus sign. Round your present value factor to 3 decimals and round all other intermediate calculations to nearest whole dollar.) c. The internal rate of return is between what two whole discount rates (e.g., between 10% and 11%, between 11% and 12%, between 12% and 13%, between 13% and 14%, etc.)? d. Reset the discount rate to 12%. Suppose the salvage value is uncertain. How large would the salvage value have to be to result in a positive net present value