Optitux is considering investing in an automated manufacturing system. The 5y stem requires an initial investment of $5.3 million, has a 20 year life, and will have zero salvage value. If the system is implemented, the company will save $840.000 per year in direct labor costs. The company requires a 12% return from its imestments. (PV of \$1. PV of \$1). PVA or \$1. and PVA of $1 ) (Use oppropriate foctor(s) from the tobles provided.) o. Combute the proposed linvestment'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 yo answer this cuestion. Complete this question by entering your answers in the tabs below. Compute the proposed investmentis net present value. Optilux is considering investing in an automated manufacturing system. The system requires an initial investment of $5.3 million, has a 20 -year life, and will have zero salvage value. If the system is implemented, the company will save $840.000 per year in direct labor costs. The company requires a 12% return from its investments. (PV of \$1. PV of \$1. PVA of \$1, and FVA of \$1) (Use appropriate factor(s) from the tobles provided.) a. Compute the proposed imvestment'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, is the inventment's internal rate of return higher or lower than 12%, Hint it is not necessary to compute IRR to answer this euestion. Is the investments intemal rate of retum higher or lower than 12W