Optilux is considering investing in an automated manufacturing system. The system requires an initial investment of $3.8 million, has a 20 -year life, and will have zero salvage value. If the system is implemented, the company will save $540,000 per year in direct labor costs. The company requires a 12% retum from its investments. (PV of \$1, FV of \$1, PVA of \$1, and FVA of \$1) (Use appropriate factor(s) from the tables provided.) 8. Compute the proposed investment's net present value. b. Using the answer from part a, is the investment's internal rate of retum higher or lower than 12% ? Hint it is not necessary to compute IRR to answer this question. Complete this question by entering your answers in the tabs below. Compute the proposed inventment's net present value. Optitux is considering investing in an automated manufacturing system. The system requires an initial investment of $3.8 million, has a 20 -year life, and will have zero salvage value. If the system is implemented, the company will save $540,000 per year in direct labor costs. The company requires a 12% retum from its investments. (PV of \$1. FV of \$1, PVA of \$1, and FVA of S1) (Use sppropriate factor(s) from the tables provided.) a. Compute the proposed investment's net present value. b. Using the answer from part a, is the investment's internal rate of retum higher or lower than 12% ? Hint it is not necessary to compute IRR to answer this question. Complete this question by entering your answers in the tabs below. Using the answer from part a, is the investment's internal rate of return higher or lower than 12% Hint: It is not necessary to compute IRR to answer this