Dwight Donovan, the president of Solomon Enterprises is considering two investment opportunities Because of limited resources, he will be able to invest in only one of them Project A is to purchase a machine that will enable factory automation, the machine is expected to have a useful life of five 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 $109,000 and for Project Bare $30,000 The annual expected cash inflows are $26,584 for Project A and $7.914 for Project B. Both investments are expected to provide cash flow benefits for the next five years. Solomon Enterprises desired rate of return is 6 percent. (PV of $1 and PVA of $11 (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 Compute the net present value of each project. Which project should be adopted based on the net present value approach? (Round your final answers to 2 decimal places.) Not Present Value Project Projects Which project should be adopted? Dwight Donovan, the president of Solomon Enterprises, is considering two investment opportunities will be able to invest in only one of them. Project A is to purchase a machine that will enable factory a expected to have a useful life of five years and no salvage value. Project B supports a training progra employees operating the current equipment. Initial cash expenditures for Project A are $109,000 and annual expected cash inflows are $26,584 for Project A and $7,914 for Project B. Both investments ar benefits for the next five years. Solomon Enterprises' desired rate of return is 6 percent (PV of $1 and 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 b. Compute the approximate internal rate of return of each project. Which one should be adopted base approach? ces 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 return approach? Internal Rate of Return % Project A Project B Which project should be adopted? %