Exercise 24-19 (Algo) Net present value; internal rate of return; equal cash flows LO P3, P4 Quary Company is considering an investment in machinery with the following information. The company's required rate of return is 14%. (PV of $1. FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Initial investment $304,000 k Useful life Salvage value Expected sales per year $ 30,400 Selling, general, and administrative expenses 12,000 units Selling price per unit Materials, labor, and overhead (except depreciation) 9 years Depreciation-Machinery $ 60,000 30,400 20,000 $ 13 ht a. Compute the Investment's net present value. b. Using the answer from part a, is the investment's internal rate of return higher or lower than 14% ? inces