Big Steve's, makers of swizzle sticks, is considering the purchase of a new plastic stamping machine. This investment requires an intial requires an intial outlay of $$110,000$ and will generate net cash inflows of $16,000$ per year for $9$ years.

What is the project's NPV using a discount rate of $16\%?$ Shoukd the project be be accepted? Why or why not?

What is this project's internal rate of return? Should the project be accepted? Why or why not?