Chee Company has gathered the following data on a proposed investment project: Investment required in equipment............. $240,000 Annual cash inflows.................................. $50,000 Salvage value ............................................ $0 Life of the investment ............................... 8 years Required rate of return .............................. 10% Assets will be depreciated using straight line depreciation method

Required: Using the net present value and the internal rate of return methods, is this a good investment?