Pronghorn Company manufactures automobile components for the worldwide market. The company has three large production facilities in Virginia, New Jersey, and California, which have been operating for many years. Brett Harker, vice president of production, believes it is time to upgrade operations by implementing computer-integrated manufacturing (CIM) at one of the plants Brett has asked corporate controller Connie Carson to gather information about the costs and benefits of implementing CIM. Carson has gathered the following data: Initial equipment cost Working capital required at start-up Salvage value of existing equipment Annual operating cost savings Salvage value of new equipment at end of its useful life Working capital released at end of its useful life Useful life of equipment $7,716,000 $ 771,600 $96,450 $1,080,240 257,200 $ 771,600 10 years $ Pronghorn Company uses a 12% discount rate. Click here to view the factor table Calculate the net present value of Pronghorn's proposed investment in CIM. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971. Enter negative amounts using a negative sign preceding the number, e.g. -59,991 or parentheses, e.g. (59,991).) Net present value$ Use Excel or a similar spreadsheet application to calculate the internal rate of return on Pronghorn's proposed investment. (Round internal rate of return to 2 decimal places, e.g. 15.25%.) Internal rate of return Pronghorn Company manufactures automobile components for the worldwide market. The company has three large production facilities in Virginia, New Jersey, and California, which have been operating for many years. Brett Harker, vice president of production, believes it is time to upgrade operations by implementing computer-integrated manufacturing (CIM) at one of the plants Brett has asked corporate controller Connie Carson to gather information about the costs and benefits of implementing CIM. Carson has gathered the following data: Initial equipment cost Working capital required at start-up Salvage value of existing equipment Annual operating cost savings Salvage value of new equipment at end of its useful life Working capital released at end of its useful life Useful life of equipment $7,716,000 $ 771,600 $96,450 $1,080,240 257,200 $ 771,600 10 years $ Pronghorn Company uses a 12% discount rate. Click here to view the factor table Calculate the net present value of Pronghorn's proposed investment in CIM. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971. Enter negative amounts using a negative sign preceding the number, e.g. -59,991 or parentheses, e.g. (59,991).) Net present value$ Use Excel or a similar spreadsheet application to calculate the internal rate of return on Pronghorn's proposed investment. (Round internal rate of return to 2 decimal places, e.g. 15.25%.) Internal rate of return