Cost Reduction Proposal: IRR, NPV, and Payback Period evaluate the desirability of treating its own liquid waste. an automated neutralization process required where materials are added to control the alkalinity-acidity range. annual operating costs are predicted to be $142,000. The system has a predicted useful life of ten years and a salvage value of $50,000. (a) Determine the project's net present value at a discount rate of 16 percent. (Round to the nearest whole number.) (b) Determine the project's approximate internal rate of return. (Round answer to the nearest percentage. Ex: 15\%) (c) Determine the project's payback period. Note: Round your answers to two decimal places. For example, enter 8.84 for 8.844 and 8.85 for 8.845 . k years