Executive Grains is considering a proposal to produce and market a new Flower-Flavored Flax. FlowerFlavored Flax is expected to generate sales of $300,000 per year for the next 8 years. The capital expenditure in year 0 is $200,000, which will be depreciated on a straight-line basis over 8 years. Variable costs are 60% of sales, and fixed costs are $40,000 per year. Except for the capital expenditure, all cash flows occur in years 1-8. The tax rate is 20% and the cost of capital is 8%. Compute the NPV and IRR.