\\begin{tabular}{ll|l|l} Reference & \\( -x \\) & Reference \\end{tabular} Petal Industries is deciding whether to automate one phase of its production process. The manufacturing equipment has a six-year life and will cost \\( \\$ 915,000 \\). Projected net cash inflows are as follows: (Click the icon to view the projected net cash inflows.) (Click the icon to view Present Value of \\( \\$ 1 \\) table.) (Click the icon to view Present Value of Ordinary Annuity of \\( \\$ 1 \\) table.) Read the requirements. Requirements Requirement 1. Compute this project's NPV using Petal's \16 hurdle rate. Should Petal invest in the equipment? Use the following table to calculate the net present value of the project. (Enter any factor amounts to three decimal places, X.XXX. Use parentheses or a minL 1. Compute this project's NPV using Petal's \16 hurdle rate. Should Petal invest in the equipment? 2. Petal could refurbish the equipment at the end of six years for \\( \\$ 101,000 \\). The refurbished equipment could be used one more year, providing \\( \\$ 75,000 \\) of net cash inflows in year 7. Additionally, the refurbished equipment would have a \\( \\$ 51,000 \\) residual value at the end of year 7 . Should Petal invest in the equipment and refurbish it after six years? (Hint: In addition to your answer to Requirement 1, discount the additional cash outflow and inflows back to the present value.)