A project requires an initial investment of $$100,000$ and is expected to

produce a cash inflow before tax of $$26,700$ per year for five years.

Company A has substantial accumulated tax losses and is unlikely to pay

taxes in the foreseeable future. Company $B$ pays corporate taxes at a rate of

$21\%$ and can claim $100\%$ bonus depreciation on the investment. Suppose the

opportunity cost of capital is $9\%.$ Ignore inflation.

a$.$ Calculate project NPV for each company. $($Do not round intermediate

calculations. Round your answers to the nearest whole dollar amount.$)$

b$.$ What is the IRR of the after$-$tax cash flows for each company? $($Do not

round intermediate calculations. Enter your answers as a percent rounded

to $1$ decimal places.$)$