Blue Mesa Oil needs to launch a new production facility to reach its strategic goals. The new facility will cost $15 million to acquire. The company will use it for 35 years, at which time the company expects to sell the facility for $1.2 million. The product from the new facility is expected to generate year-end net cash inflows of $3.2 million during every year of its 35-year life. Compute the NPV and IRR of the project. For your NPV calculations, assume a cost of capital of 15 percent.

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