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

Year Cash Flow

$0$$$591,000$

$1221,000$

$2164,000$

$3229,000$

$4208,000$

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 $4$ percent. Assume Anderson uses a required return of $12$ percent on this project.

a$.$ What is the NPV of the project? $($A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What is the IRR of the project? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$