A local brewery is considering canning selling, and distributing a new craft beer. The initial investment for equipment, marketing, etc. is estimated to be $110,000 and the owners want a 10% return to take on this risk. They have hired you to analyze the projected cash flows and advise them on what they should do. The estimated cash flows are as follows: $48,000 in the first year, $54,000 in the second year, and $55,000 in the third year. You expect to pay out $12,000 as an additional investment in the fourth Year in equipment replacement/repair.

What is your advice for accepting/rejecting the project and why? (Calculate the NPV and MIRR)