After a long drought, the manager of LB Farm is considering the installation of an irrigation system which will cost $65,000. It is estimated that the irrigation system will increase revenues by $20,500 annually, although operating expenses other than depreciation will also increase by $5,000. The system will be depreciated using the 5 year MACRS schedule and it is assumed it will have zero market value at the end of its five year economic life. If the tax rate on ordinary income is 40 percent and the firms cost of capital is 2%, due to a subsidized loan program, what is the project's IRR and MIRR and should it be accepted?