NPV and IRR: Unequal Annual Net Cash Inflows Salt River Company is evaluating a capital expenditure proposal that has the following predicted cash flows: Initial investment $(53,370) Operation Year 1 Year 2 Year 3 Salvage 20,000 40,000 10,000 0 (a) Using a discount rate of 12 percent, determine the net present value of the investment proposal. (Round to the nearest whole number.) $ 1347 (b) Determine the proposal's internal rate of return. (Round to the nearest whole percentage.)