Chiavari Manufacturing Company is considering a project to purchase a new equipment for their factory in Milan. The equipment costs $500,000 today and it will be depreciated on a straight-line basis over five years. In addition, the companys inventory will increase by $55,000 and accounts payable will rise by $20,000. All other operating working capital components will stay the same. The change in net working capital will be recovered at the end of third year at which time the company sells the equipment at an expected market value of $200,000. Mr. Berlusconi, the financial manager of the company, has estimated that the equipment will generate revenues of $1,000,000 in year 1, $1,500,000 in year 2, and $1,600,000 in year 3. Mr. Berlusconi has also estimated the operating costs, excluding depreciation, to be equal 76.20 percent of the revenue of each year. The projects cost of capital is 15 percent and the companys tax rate is 31.50 percent. -What is NPV and MIRR of the project?