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

Year Unit Sales

$176,000$

$289,000$

$3108,750$

$4101,500$

$568,800$

Production of the implants will require $$2,250,000$ in net working capital to start and additional net working capital investments each year equal to $20$ percent of the projected sales increase for the following year. Total fixed costs are $$4,700,000$ per year, variable production costs are $$270$ per unit, and the units are priced at $$420$ each. The equipment needed to begin production has an installed cost of $$19,500,000.$ Because the implants are intended for professional singers, this equipment is considered industrial machinery and thus qualifies as seven$-$year MACRS property. $($MACRS schedule$)$ In five years, this equipment can be sold for about $25$ percent of its acquisition cost. The tax rate is $25$ percent the required return is $15$ percent.

a$.$

What is the NPV of the project? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

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