Problem 16-19A (Algo) Using net present value and internal rate of return to evaluate investment opportunities LO 16-2, 16-3 Dwight Donovan, the president of Vemon Enterprises, is considering two investment opportunities. Because of limited resources, he Wil 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 usenul ife of five years and no saivage value Project B supports a traning program that will improve the skalis of employees operating the current equipment. Inital cash expenditures for Project A are $114,000 and for Project 8 are $38,000. The annuai expected cash infiows are $29,309 for Project A and $10,542 for Project B. Both investments are expected to provide cash flow benefits for the next five years. Vernon Enterprises' destred rate of retum is 4 percent. (PX of S1 and PVA. Of.SD) (Use opproprlote foctor(c) from the tobles provided.) Requlred 0. Compute the net present value of each project. Which project should be adopted based on the net present value approach? b. Compute the approxmate internal rate of return of each project. Which one should be adopted based on the internal rate of return. approach? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Compute the net present value of each project. Which project should be adopted based on the net present value apercach? (Round your final answers to 2 decimal places.)