Exercise 26-15 NPV and IRR for automation investment LO P3, P4 Optilux is considering investing in an automated manufacturing system. The system requires an initial investment of $4.4 million, has a 20-year life, and will have zero salvage value. If the system is implemented, the company will save $660,000 per year in direct labor costs. The company requires a 12% return from its investments. 1. Compute the proposed investment's net present value 2 Using your answer from part 1. is the investment's internal rate of return higher or lower than 12%? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the proposed investment's net present value. Net present value 3 Regulred Required 2 > Required 1 Required 2 Using your answer from part 1, is the investment's internal rate of return higher or lower than Is the investment's internal rate of return higher or lower than 12%?