Anderson International Limited is evaluating a project in Erewhon. The project will create the following cash flows:

Year

Cash Flow

0

$582,000

1

212,000

2

155,000

3

220,000

4

199,000

All cash flows will occur in Erewhon and are expressed in dollars. In an attempt to improve its economy, the Erewhonian government has declared that all cash flows created by a foreign company are blocked and must be reinvested with the government for one year. The reinvestment rate for these funds is 7 percent. Assume Anderson uses a required return of 13 percent on this project.

Requirement 1:

What is the NPV of the project? (Do not round intermediate calculations. Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places (e.g., 32.16).)

Net present value

$

Requirement 2:

What is the IRR of the project? (D