Houston Inc. is considering the purchase of new equipment that will automate production and thus reduce labor costs. Houston made the following estimates related to the new machinery: Cost of the equipment $184,000 Reduced annual labor costs $55,000 Estimated life of equipment 10 years Terminal disposal value $0 After-tax cost of capital 12% Tax rate 35% Question content area bottom Part 1 Requirement 1. Calculate (a) net present value, (b) payback period, (c) discounted payback period, and (d) internal rate of return. a. Net present value. (Round intermediary calculations to the nearest whole dollar. Use factors to three decimal places, X.XXX, and use a minus sign or parentheses for a negative net present value. Enter the net present value of the investment rounded to the nearest whole dollar.)