Dwight Donovan, the president of Thornton Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one of them. Project A is to purchase a machine that will enable factory automation; the machine is expected to have a useful life of four years and no salvage value. Project 8 supports a training program that will improve the skills of employees operating the current equipment. Initial cash expenditures for Project A are $117,000 and for Project 8 are $46,000. The annual expected cash inflows are $45,196 for Project A and $15,145 for Project El. Eloth investments are expected to provide cash ow benefits for the next four years. Thornton Enterprises' desired rate of return is 8 percent. 1331 and PVA of $1} [Use appropriate factorlsj from the tables provided} Required a. Compute the net present value of each project. Which project should be adopted based on the net present value approach? b. Compute the approximate internal rate of return of each project. Which one should be adopted based on the internal rate of return approach? lI'Jomplete this question by entering your answers in the lambs below. RequiredA RequiredB Compute the approximate internal rate of return of each project. which one should he adopted based on the internal rate of return approach? ProjectA Project B Which project should be adopted? '4 Required A Wk 2 Practice: Planning for Capital Investme... 0 Saved Help Save at Exit Submit 1 Dwight Donovan, the president of Thornton Enterprises, is considering two investment opportunities. Because of limited resources, he will be able to invest in only one ofthem. Project A is to purchase a machine that will enable factory automation; the machine is expected to have a useful life of four years and no salvage value. Project B supports a training program that will 20 improve the skills ofemployees operating the current equipment. Initial cash expenditures for Project A are $117,000 and for PDIHIS- Project B are $46,000. The annual expected cash inflows are $45,196 for Project A and $15,145 for Project B. Both investments are expected to provide cash flow benefits for the next four years. Thornton Enterprises' desired rate of return is 8 percent. 1'31 and PVA of $1} [Use appropriate 'l'ec'tor{s) from the tables provided.} eBook Requn'ed _ 3. Compute the net present value of each project. Which project should be adopted based on the net present value approach? 5 b. Compute the approximate internal rate of return of each project. Which one should be adopted based on the internal rate of Print return approach? ri C let th' tio nte' 'th lab bl References amp I: Is ques n bye rlng wur answers In e 5 e ow. Required A Required B Compute the net present value of each project. which project should be adopted based on the net present value approach? (Round your nal answers to 2 decimal places.) ProjectA Project B Which project should be adopted? Required B )