A project requires an initial investment of $$22\mathrm{.}61$ million to buy new equipment, and will provide cash flows for $4$ years. After $4$ years, the equipment will be worthless. The expected annual sales due to the project are $$50$ million, expected annual costs are $$41$ million and annual depreciation is $$5$ million. The appropriate cost of capital for the project is $12\%.$ The company's tax rate is $31\%.$

What is the annual cash flow from assets in years $1$ to $4($in $ million$)?$

What is the project's internal rate of return?

What is the NPV of the project $($in $ million$)?$