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) Note: Use appropriate factor(s) from the tables provided. Initial investment Useful life $ 256,000 Materials, labor, and overhead (except depreciation) 8 years Depreciation-Machinery $ 48,000 Salvage value Expected sales per year $ 25,600 10,000 units Selling, general, and administrative expenses Selling price per unit 25,600 8,000 $ 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 12%? Hint: It is not necessary to compute the IRR to answer this question. Complete this question by entering your answers in the tabs below. Required A Required B 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 Present Value of Net Net Cash Flows X Present Value = Cash Flows = = $ 0