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Butler International Limited is evaluating a project in Erewhon. The project will create the following cash flows: Year Cash Flow 0 $1,340,000 515,000 580,000 475,000

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Butler International Limited is evaluating a project in Erewhon. The project will create the following cash flows: Year Cash Flow 0 $1,340,000 515,000 580,000 475,000 430,000 WN - 4 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 If the company uses a required return of 15 percent on this project, what are the NPV and IRR of the project? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations and round your final answers to 2 decimal places, e.g., 32.16. Enter your IRR answer as a percent.) NPV IRR %

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