give a long paragraph point wise, Give different limitations of NPV and IRRl

The management of a company is evaluating a project proposal with the following financial details: The company required rate of return is 8% The initial project cost: $100,000 The product of the project will become obsolete and stop providing value after 8 years. The annual maintenance cost of the project product is $4000 The project product creates annual cash inflow of $20,000 1)Can you help the company decide whether they should take on this project or not? Please use NPV and IRR functions in Excel. Please explain your answer. 2) Should the management solely base their decision on the financial analysis for project selection? What are the limitations of relying solely on this approach