Edelman Engineering is considering a piece of equipment in this years capital budget. The cash outlay for the truck is -$17,100. The firms cost of capital, WACC, is 14 percent. The expected cash inflows are as follows:

YEAR Cash Flow

1 $5,500

2 $5,500

3 $5,500

4 $5,500

5 $7,500

a. Calculate the NPV.

b. Calculate the MIRR.