uary Company is considering an investment in machinery with the following information. The companys 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 $ 210,000 Materials, labor, and overhead (except depreciation) $ 50,000 Useful life 8 years DepreciationMachinery 21,000 Salvage value $ 21,000 Selling, general, and administrative expenses 10,000 Expected sales per year 13,000 units Selling price per unit $ 10 Compute the investments net present value. Using the answer from part a, is the investments internal rate of return higher or lower than 12%? Hint: It is not necessary to compute the IRR to answer this