Subject: accounting Initial investmentAnnual net incomeExpected lifeSalvage valueMerrill's cost of capitalReq 1 and 2 Req 3 and 41.$2,300,000$ 180,000Assume straight line depreciation method is used.Required:1. Calculate the project's net present value.2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 8 percent.3. Calculate the net present value using a 11 percent discount rate.4. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 11 percent.8 years.Net Present Value$ 190,000$8%Complete this question by entering your answers in the tabs below.1. Calculate the project's net present value. (Future Value of $1, Present Value of $1, Future Value Annuity of $1,Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Do not round intermediate calculations.Round the final answer to nearest who dollar.)2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 8 percent.Show less AAnswer is complete but not entirely correct.352,723 xReturn t

This pertains to capital budgeting. Net present value is the sum of present values of all cash flows…

Required: 1. Calculate the project's net present value. 2. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 8 percent. 3. Calculate the net present value using a 11 percent discount rate. 4. Without making any calculations, determine whether the internal rate of return (IRR) is more or less than 11 percent.