Merrill Corp. has the following information available about a potential capital investment: Initial investment Annual net income Expecled life Salvage value Mermill's cost of capita $1,200,000 $ 120,000 8 years $ 130,000 10% Assume straight line depreciation method is used. Required: 1. Calculate the project's net present value. (Future value of?1. Present Value of $3. calculations. Round the final answer to nearest whole dollar) Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Do not round intermediate 2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 10 percent Greater than 10 Percent O Less than 10 Percent 3. Celculate the net present velue using a 13 percent discount rate. Future Value of $1, Present Value of $1, intermediate calculations. Round the final answer to nearest whole dollar.) of $1,Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Do not round 4. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 13 percent. More than 13 percent O Less than 13 percent Equal to 13 percent