Merrill Corp. has the following information available about a potential capital investment: Initial investment $1,400,000 Annual net income $ 140,000 Expected life 8 years Salvage value $ 150,000 Merrill's cost of capital 10% Assume straight line depreciation method is used. Required: 1. Calculate the project's net present value. 2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 10 percent. 3. Calculate the net present value using a 13 percent discount rate. 4. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 13 percent. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 and 41 1. Calculate the project's net present value. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Do not round intermediate calculations. Round the final answer to nearest whole dollar.) 2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 10 percent. Show less A 1 Net Present Value 2 Internal Rate of Return (RR) Reg 1 and 2 Req 3 and 4 >