Problem 12-18 Net present value and internal rate of return methods [LO12-4]. The Pan American Bottling Co. is considering the purchase of a new machine that would increase the speed of bottling and save money. The net cost of this machine is $57,000. The annual cash flows have the following projections. Use Appendix Band Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods 1 2 $24,000 35,000 28,000 16.000 9.000 5 a. If the cost of capital is 8 percent, what is the net present value of selecting a new machine? (Do not round Intermediate calculations and round your final answer to 2 decimal places.) Net present value b. What is the internal rate of return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Internal rate of return % c. Should the project be accepted? Q Yes O No