Merrill Corporation has the following information available about a potential capital investment Initial investment Annual net income Expected life Salvage value Merrili's cost of capital 5 2, 409, 000 \& 170,000 8 years s 180,000 Assume straight line depreciation method is used. Required: 1. Calculate the project's net present value. (Future Value of \$1.Present Value of \$1. Euture Value Annuity of \$1, Present Valus Annuity of \$1.) Note: Use appropriate foctor(s) from the tables provided. 2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 8 percent. 3. Calculate the net present value using a 10 percent discount rate. (Future Value of \$1, Present Vialuc of \$1, Future Value Anouity or $1. Present Value Annuity of \$1) Note: Use appropriate factor(s) from the tables provided. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 10 percent. Complete this question by entering your answers in the tabs below