Growth Enterprises believes its latest project, which will cost $120,000 to install, will generate a perpetual growing stream of cash flows. The cash flow at the end of the first year will be $4,000, and cash flows in future years are expected to grow indefinitely at an annual rate of 4%.

If the discount rate for the project is 9%, what is the project NPV?

NPV=

(please round your final result to 2 decimals if necessary)

What is the internal rate of return (IRR) for the project?

IRR = %

(Note: the above answer is in terms of percentage. Please round your final result to 2 decimals if necessary)