Quary Company is considering an investment in machinery with the following information. The company's required rate of return is 15%. Initial investment Useful life Salvage value $ 204,000 Materials, labor, and overhead (except depreciation) 8 years Depreciation-Machinery $ 46,000 Expected sales per year $ 20,400 10,000 units Selling, general, and administrative expenses Selling price per unit 20,400 6,000 $ 12 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 15%? Hint: It is not necessary to compute the IRR to answer this question. Compute the investment's net present value. Note: 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. Years 1-8 Year 8 salvage Totals Net Cash Flows Present Value Present Value of Net Cash Flows = $ 0