Monty Company manufactures automobile components for the worldwide market. The company has three large production facilities in Virginia, New Jersey, and California which have been operating for many years. Brett Harker, vice president of production, believes it is time to upgrade operations by implementing computer integrated manufacturing (CIM) at one of the plants. Brett has asked corporate controller Connie Carson to gather information about the costs and benefits of implementing CIM Carson has gathered the following data $ 7,400,000 $ 600,000 3 107.400 Initial equipment cost Working capital required at start-up Salvage value of existing equipment Annual operating cost savings Salvage value of new equipment at end of its useful life Working capital released at end of its useful 5 1,202,880 5 286,400 $ 600,000 Useful life of equipment 10 years Monty Company uses a 12% docount rate Calculate the net present value of Monty's proposed investment in CIM. (For calculation purposes, use 4 decimal places as displayed In the factor table provided and round final answer to decimal place, s. 58,971. Enter negative amounts using a negative sin preceding the number, es -59,991 or parentheses (59.9911) Net present value $ -61066662 eTextbook and Media (b) Your answer is incorrect Use Excel or a similar spreadsheet application to calculate the internal rate of return on Monty's proposed investment. (Round Internal rote of return to 2 decimal places, es, 15.25%) Internal rate of return % e Textbook and Media Save for Later Attempts: 1 of 3 used Submit