1. Deeperise Industries just paid $2.5 million to a consulting firm for a assistance with a project. If the company goes ahead with the project, it must immediately spend another $10 million now, and then spend $20 million in one year. In two years it will receive $18 million, and in three years it will receive $22million and in three years it will receive $10 million. If the cost of capital for the project is 11 percent, what are the project's NPV and IRR?

   		NPV= $6.02 million, IRR=14%
   		NPV= $12.1 million, IRR=21%
   		NPV= $6.77 million, IRR=20%
   		NPV= $9.27 million, IRR=27%