In the process of researching new equipment, Vaughn settled on two seemingly viable alternatives:

A one$-$time investment today of $$36,000,$ which should generate net after$-$tax cash inflows of $$21,000$ per year for the next $3$ years.

A one$-$time investment today of $$50,000,$ which should generate net after$-$tax cash flows of $$32,000$ per year for the next $3$ years.

Both amounts already include the depreciation tax shield. Vaughn's minimum required return is $8\%.$

$($a$1)$ Calculate the NPV and IRR for both of these investments. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final NPV answers to $0$ decimal places e$.$g$.58,971.$ Round IRR to $2$ decimal places, e$.$g$.15\mathrm{.}25\%.$ Enter negative amounts using either a negative sign preceding the number, e$.$g$.-58,971$ or parentheses, e$.$g$.).)$

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Option $1$

Option $2$In the process of researching new equipment, Vaughn settled on two seemingly viable alternatives:

A one$-$time investment today of $$36,000,$ which should generate net after$-$tax cash inflows of $$21,000$ per year for the next $3$ years.

A one$-$time investment today of $$50,000,$ which should generate net after$-$tax cash flows of $$32,000$ per year for the next $3$ years.

Both amounts already include the depreciation tax shield. Vaughn's minimum required return is $8\%.$

$($a$1)$ Calculate the NPV and IRR for both of these investments. $($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final NPV answers to $0$ decimal places e$.$g$.58,971.$ Round IRR to $2$ decimal places, e$.$g$.15\mathrm{.}25\%.$ Enter negative amounts using either a negative sign preceding the number, e$.$g$.-58,971$ or parentheses, e$.$g$.).)$

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Option $2$