Quary Company is considering an investment in machinery with the following information. The company's required rate of return is 12%. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Initial investment $ 350,000 Materials, labor, and overhead (except depreciation) $ 63,000 Useful life 8 years Depreciation-Machinery 38,000 Salvage value $ 21,800 Selling, general, and administrative expenses 23,000 Expected sales per year 12,000 units Selling price per unit $ 13 a. Compute the 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%? Complete this question by entering your answers in the tabs below. Required A Required B Compute the investment's net present value. (Negative net present values should be indicated with a minus sign. Round your present value factor to 4 decimals. Round your answers to the nearest whole dollar.) Chart Values are Based on: n= i = % Year Cash Inflow PV Factor Present Value Years 1-8 Year 8 salvage $ II 11 II 0