Duck Commander is considering the purchase of a facility in IL to expand their operations. This project makes Phil happy, happy, happy yet Willie requires a financial analysis to explore whether this project makes sense. The facility will cost $3 million and will have a useful life of 10 years. At the end of the 10 years, the expected salvage value is $70,000. The facility will generate additional cash flow each year of $500.000. Duck Commander's cost of capital is 3%. Round anwwers to nearest dollar Question 1 (6 points) Assume Willie uses the net present value method to evaluate this project. Calculate the net present values Question 2 (2 points) Based on your answer to #1, should Willie accept or reject this project? Question 3 (2 points) Jep mentioned that perhaps they should be using IRR to evaluate these projects Uncle si exclaimed - IT urghhhhh?! What does the acronym IRR represent