Hi! I've been working on a question for finance for a while and am stumped. The question is below and attached on sheet 11 is what I've done so far. Would love your help on what I am missing or doing wrong with finding the NPV and IRR.

A firm is considering an investment in a new machine with a price of $18.02 million to replace its existing machine. The current machine has a book value of $6.02 million and a market value of $4.52 million. The new machine is expected to have a four-year life, and the old machine has four years left in which it can be used. If the firm replaces the old machine with the new machine, it expects to save $6.72 million in operating costs each year over the next four years. Both machines will have no salvage value in four years. If the firm purchases the new machine, it will also need an investment of $252,000 in net working capital. The required return on the investment is 10 percent and the tax rate is 35 percent.

What is the NPV of the decision to purchase a new machine?(Enter your answer in dollars, not millions of dollars. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 1,234,567.89.)

NPV$

What is the IRR of the decision to purchase a new machine?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

IRR%

lculating NPV and IRR for a Replacement

A firm is considering an investment in a new machine with a price of $18.02 million to replace its existing machine. The current machine has a book value of $6.02 million and a market value of $4.52 million. The new machine is expected to have a four-year life, and the old machine has four years left in which it can be used. If the firm replaces the old machine with the new machine, it expects to save $6.72 million in operating costs each year over the next four years. Both machines will have no salvage value in four years. If the firm purchases the new machine, it will also need an investment of $252,000 in net working capital. The required return on the investment is 10 percent and the tax rate is 35 percent.

What is the NPV of the decision to purchase a new machine?(Enter your answer in dollars, not millions of dollars. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 1,234,567.89.)

NPV$

What is the IRR of the decision to purchase a new machine?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

IRR%

Thank you so much!