Emmett Brown Technologies, Inc. (EBT), projects unit sales for a new gasoline-run flux capacitor as follows:

Year		Unit Sales
1			78,000
2			91,000
3			105,000
4			100,000
5			81,000

Production of the flux capacitors will require $1,570,000 in net working capital to start and additional net working capital investments each year equal to 10 percent of the projected sales increase for the following year. At the completion of the project, the company will have to recover all NWC it still has in the project. Total fixed costs are $1,470,000 per year, variable production costs are $250 per unit, and the units are priced at $365 each. The equipment needed to begin production has an installed cost of $20,700,000. Because the flux capacitors are intended for professional loopers, this equipment is considered industrial machinery and thus qualifies as seven-year MACRS property. In five years, this equipment can be sold for about 15 percent of its acquisition cost. EBT is in the 30 percent marginal tax bracket and has a required return on all its projects of 17 percent. Refer to Table 10.7.

What is the NPV of the project? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

NPV

$

What is the IRR? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

IRR= $ 22.36