Problem 1019A Using net present value and internal rate of return to evainate investment opportunities Dwight Donovan, the president of Donovan 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 B supports a training program that will improve the skills of employees operating the L current equipment. Initial cash expenditures for Project A are $400,000 and for Project B are $160,000. The annual expected cash inflows are $126,000 for Project A and $52,800 for Project B. Both investments are expected to provide cash flow benets for the next four years. Donovan Enterprises' desired rate of return is 8 percent