2. (7 points) A project involves renovating a manufacturing facility to improve profits for a company. The expected cash flow amounts over the 15 year useful life of the project are shown below. The company has established a MARR of 18%. Determine whether the company should proceed with the upgrades using the following methods: a. Internal rate of return method (IRR) b. External rate of return method (ERR), with external reinvestment rate = = 12% Initial capital investment: $95,000 Annual expenses: $14,500 Annual revenues: $34,200 Salvage value: $12,000