4. (22 points) Del Mar Fishing Co. is considering a five-year project to improve its production efficiency by purchasing a new machine to pack frozen shrimp. Buying a new machine now (t=0) for $ 1,200,000 is estimated to result in no change in revenue, but $ 250,000 per year in pretax cost savings for the next five years. The firm needs to increase net working capital by $ 450,000 at time 0. The machine will be depreciated straight-line to zero book value over its five-year life. The firm expects that the machine will be sold for $ 320,000 at the end of the fifth year. The required rate of return (i.e., cost of capital) on the project is 15% and the relevant tax rate is 35%. What are the NPV and IRR of the project? Should Del Mar accept or reject the project? Please be specific