OptiLux is considering investing in an automated manufacturing system. The system requires an initial investment of $4.0 million, has a 20-year life, and will have zero salvage value. If the system is implemented, the company will save $580,000 per year in direct labor costs. The company requires a 12% return from its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate 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 return 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. Required Required S A B Compute the proposed investment's net present value. Net present value < Required A Required B > OptiLux is considering investing in an automated manufacturing system. The system requires an initial investment of $4.0 million, has a 20-year life, and will have zero salvage value. If the system is implemented, the company will save $580,000 per year in direct labor costs. The company requires a 12% return from its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate 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 return 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. Required Required A B 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 question. Is the investment's internal rate of return higher or S lower than 12%? < Required A Required B > On January 1, a company agrees to pay $28,000 in nine years. If the annual interest rate is 3%, determine how much cash the company can borrow with this agreement. (PV of $1, FV of $1, PVA of $1, and FVA of $1) Note: Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places. Future Value Table Factor Amount Borrowed II