Problem 8 Dwight Donovan, the president of Donovan Enterprises,is considering two linvos opportunities. Because of limited resources, he will be able to invest t th machine is Project A is to purchase a machine that will enable factory automation: expected to have a useful life of four years and no salvoge training program that will improve the skills of employees opera equipment. Initial cash expenditures for project A are $400.000 and for project re $160,000. The annual expected cash inflows are $126,000 for project A and $52.6u0 project B. Both investment years. Donovan Enterprise's cost of copital is 8 percent. stment the machine is value. Project B supports o s are expected to provide cash flow benefits for the next four Required Compute the net present value of each project. Which project should be adopted on the net present value approach? Round your computations to two decimal points. Based on this, which project should Donovan select? a. Compute the approximate internal rate of return on each project. Which one should be adopted based on the internal rate of return approach? Round your rates to six decimal places. Based on this, which project should Donovan select? b. c. Compute the payback period for each project. Based on this, which project should Donovan select