Dwight Donovan, the president of Fanning Enterprises, is considering two Investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project Als to purchase a machine that will enable factory automation, the machines expected to have a useful life of four years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $106,000 and for Project B ure $49,000. The annual expected cash inflows are $33,440 for Project A and $16,132 for Project B. Both Investments are expected to provide cash flow benefits for the next four years. Fanning Enterprises' desired rate of return is 4 percent. (PV of S1 and PVA of $1 (Use appropriate factor(s) from the tables provided.) Required a. Compute the net present value of each project. Which project should be adopted based on the net present value approach? b. Compute the approximate Internal rate of return of each project Which one should be adopted based on the Internal rate of return approach? Complete this question by entering your answers in the tabs below. Required A Required B Compute the net present value of each project. Which project should be adopted based on the net present value approach? (Round your final answer to 2 decimal places) Net Prosont Value Project A Projects Which project should be adopted? Required 3 > Complete this question by entering your answers in the tabs below. Required A Required B Compute the approximate internal rate of return of each project. Which one should be adopted based on the Internal rate of return approach? Internal Rate of Return 9 Project A Project B Which project should be adopted? %