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 12%. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Initial investment $ 288,000 Materials, labor, and overhead (except depreciation) $ 62,000 Useful life 7 years Depreciation-Machinery 28,800 Salvage value $ 28,800 Selling, general, and administrative expenses 22,000 Expected sales per year 11,000 units Selling price per unit $ 14 a. Compute the investment's net present value. b. Using the answer from part a, is the investments internal rate of return higher or lower than 12%? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required A Required B Compute the investment's net present value. (Negative net present values should be indicated with a minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.) Net Cash Flows $ 49,840 x 28,800 Present Value 4.5638 0.4523 x Years 1-7 Year 7 salvage Totals Initial investment Net present value Present Value of Net Cash Flows $ 227,460 X 13,026 $ 240,486 288,000 $ (47,514)