Jurer Industries is considering expanding its products to include a new product. The cost of the expansion is 150 million yen. The expansion will cause after-tax cash flows to rise by 28 million yen for the next 10 years. The required rate of return is 7 percent. What is the project's NPV and IRR?

1. 37.8 10.5%

2. 46.7 13.3%

3. 60.4 17.6%