¹⁾ Your firm is contemplating the purchase of a new $660,000 computer-based order entry system. The system will be depreciated straight-line to zero over its 5-year life. It will be worth $133,000 at the end of that time. You will save $210,000 before taxes per year in order processing costs, and you will be able to reduce working capital by $148,000 (this is a one-time reduction). If the tax rate is 22 percent, what is the IRR for this project?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

2)Medavoy Company is considering a new project that complements its existing business. The machine required for the project costs $4.95 million. The marketing department predicts that sales related to the project will be $2.67 million per year for the next four years, after which the market will cease to exist. The machine will be depreciated to zero over its 4-year economic life using the straight-line method. Cost of goods sold and operating expenses related to the project are predicted to be 25 percent of sales. The companyalso needs to add net working capital of $235,000 immediately. The additional net working capital will be recovered in full at the end of the project's life. The corporate tax rate is 22 percent and therequired return for the project is 10 percent.What is the value of the NPV for this project?(Do not round intermediate calculations and enter your answer in dollars, not millions of dollars,rounded to 2 decimal places, e.g., 1,234,567.89.)