Manzer Enterpnses is considering two independent investments: A new automated materiais handling system that costs $900,000 and will produce net cash inflows of $300,000 at the end of each year for the next four years. A computer-aided manufacturing system that costs $775,000 and will produce labor savings of $400,000 and $500,000 at the end of the first year and second year, respectively. Manzer has a cost of capital of 8 percent. The present value tabies provided in Exhibit 198.1 and Exhibit 198.2 must be used to solve the following problems. Required: 1. Calculate the IRR for the first investment. Enter your answers as whole percentage values (for example, 16% should be entered as "16" in the answer box). Between % and \%. Determine if it is acceptabie or not: 2. Calculate the IRR of the second investment, Use 12 percent as the fint guess, Enter your answers as whole percentage values (for example, 16% shouid be entered as " 16 " in the answer box). Between Wh and \%. Comment on its acceptability. 3. What if the cash flows for the first investment are $250,000 instead of $300,0007 Give your answer to the nearest whole percent. The IRR would be about \%