$1.$ Your company is considering a new computer system initially costing $$1\mathrm{.}25$ million. It will save $$400,000$ per year in inventory and receivables management costs. The system is expected to last for five years and will be depreciated using $3-$year MACRS. The system is expected to have a salvage value of $$25,000$ at the end of year $5.$ There is no impact on net working capital. The marginal tax rate is $21\%.$ The required return is $9\%.$ Calculate the NPV and IRR for the project.