1. Project L requires an initial outlay at t = 0 of $45,000, its expected cash inflows are $10,000 per year for 9 years, and its WACC is 10%. What is the project's NPV? Do not round intermediate calculations. Round your answer to the nearest cent.

2. Project L requires an initial outlay at t = 0 of $82,456, its expected cash inflows are $14,000 per year for 9 years, and its WACC is 9%. What is the project's IRR? Round your answer to two decimal places.