Given these data:

Unit sales: 300k, 500k, 1m, 1.2m, 1.5m, 1.2m, 1m, 800k Unit price: $5 Fixed cost: $500k per year starting in year 1 Variable cost: $2.5 per unit $2m initial Cap Ex, then 5-year MACRS depreciation Salvage value: 10% of original cost 21% tax rate NWC is $100k in year 0, then 20% of sales value Discount rate 20%

Calculate NPV and IRR