California Health Center, a for$-$profit hospital, is evaluating the purchase of new diagnostic equipment. The equipment, which costs $$600,000,$ has an expected life of five years and an estimated pre$-$tax salvage value of $$200,000$ at that time. The equipment is expected to be used $15$ times a day for $250$ days a year for each year of the project's life. On average, each procedure is expected to generate $$80$ in collections, which is net of bad debt losses and contractual allowances, in its first year of use. Thus, net revenues for Year $1$ are estimated at $15250$$$80=$$$300,000.$ Lakyor maintenance costs are expected to be $$100,000$ during the first year of operation, while utilities will cost another $$10,000$ and cash overhead will increase by $$5,000$ in Year $1.$ The cost for expendable supplies is expected to average $$5$ per procedure during the first year. All costs and revenues, except depreciation, are expected to increase at a $5$ percent inflation rate after the first year.

The equipment falls into the MACRS five$-$year class for tax depreciation and hence is subject to the following depreciation allowances:

Year

$\backslash$table$[[,$Allowance$],[1,0\mathrm{.}2],[2,0\mathrm{.}32],[3,0\mathrm{.}19],[4,0\mathrm{.}12],[5,0\mathrm{.}11],[,0\mathrm{.}06]]$

The hospital's tax rate is $40$ percent, and its corporate cost of capital is $10$ percent. Assume that the project has average risk.

What is the project's NPV$?$

Note: Format is $$,x$

What is the project's IRR?

Note: Format is $.x\%$