Aria Acoustics, Incorporated $($AAI$),$ projects unit sales for a new seven$-$octave voice emulation implant as follows:

Production of the implants will require $$1,600,000$ in net working capital to start and additional net working capital investments each

year equal to $15$ percent of the projected sales increase for the following year. Total fixed costs are $$3,400,000$ per year, variable

production costs are $$257$ per unit, and the units are priced at $$381$ each. The equipment needed to begin production has an installed

cost of $$16,900,000.$ Because the implants are intended for professional singers, this equipment is considered industrial machinery

and thus qualifies as seven$-$year MACRS property. In five years, this equipment can be sold for about $20$ percent of its acquisition cost.

The tax rate is $22$ percent and the required return is $14$ percent. MACRS schedule

a$.$ What is the NPV of the project?

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

b$.$ What is the IRR?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$