Lee, Inc. is considering the production of a new line of soft drinks at its Springfield, IL plant. The CFO of Lee, Inc. is provided with the following information on the new project: $$ The expansion will require the immediate purchase of new machinery for $$56,000,000.$ The firm has spent $$2,500,000$ to train workers to use the new machinery. $$ The incremental sales from this project are expected to be $$21,500,000$ per year. The incremental operating expenses $($excluding depreciation$)$ are expected to equal $$11,500,000$ per year. $$ The company uses straight$-$line depreciation. The project has an economic life of $10$ years. The machinery has a salvage value of $$4,000,000$ and will be sold for that amount at the conclusion of the project. $$ Because the machine will allow the company to decrease its average monthly inventory levels, the project will decrease net working capital by $$2,500,000$ at the beginning of the project. This amount will need to be replaced at the end of the project. $$ Lee Inc.$$s marginal tax rate is $40\%.$ Lee Inc.$$s weighted average cost of capital $($WACC$)$ is $12\mathrm{.}5\%.$What is the IRR of this project?What is the NPV of this project?