Pedro Spler, the president of Spler Enterprises, is considering two Investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation, the machine is expected to have a useful life of four years and no salvage value. Project B supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $116,000 and for Project B are $42,000. The annual expected cash Inflows are $35,806 for Project A and $13,828 for Project B. Both Investments are expected to provide cash flow benefits for the next four years. Spler Enterprises' cost of capital is 6 percent. Required 8-1. Compute the net present value of each project. (Round your final answers to 2 decimal places.) Net Present Value Project A Project B a-2. Which project should be adopted based on the net present value approach? Project A Project B b-1. Compute the approximate Internal rate of return of each project. Internal Rate of Return % Project A Project B %