Foster Airlines is considering two different computer systems: the Standard System and the Custom Travel System. The projected annual revenues, annual costs, capital outlays, and project life for each system (in after-tax cash flows) are as follows: Standard System Custom Travel Annual revenues $540,000 $675,000 Annual operating costs 270,000 360,000 System investment 810,000 945,000 Project life 5 years 5 years Assume that the required rate of return for the company is 12 percent. Required: 1. Calculate the NPV for each of the two systems (round discount factor to five decimal places and present values to the nearest dollar): Please review the tab "PV Table" for the present values. NPV (Standard System) = $ 94, 163 NPV (Custom Travel) = 5 80,7112. Calculate the discount factor associated with the IRR for each project (round calculated discount factor to five decimal places): Discount factor for Standard System = Discount factor for Custom Travel System = Thus, given the discount factors and using the table for the present value of an annuity, we can say that the IRR for each project is between % and % (round to nearest percent)