Meals on Wings, Inc. supplies prepared meals for corporate aircraft (as opposed to public commercial airlines), and it needs to purchase new broilers. If the broilers are purchased, they will replace old broilers purchased 4 years ago for $100,000 which cost an additional $5,000 in installation. The old broilers are being depreciated using a MACRS 5-yr. schedule and can be sold today for $60,000. The new broilers will cost $200,000 installed and will be depreciated using MACRS over their 5-year class life. Old and new broilers would be sold for their book value at the end of five years. The new broilers will cause an increase in accounts receivable of $3,000 along with a decrease in inventories of $1,500 and a decrease in accounts payable of $500. The firm expects that with the new machine revenues will increase by $24,000 per year, but that cash expenses will also increase by $2,500 per year.

If the firms cost of capital is 10% and its tax rate is 34%, what are the NPV, IRR and MIRR of the new broilers proposal? [MACRS 5-yr = yr 1 = 20%, Yr. 2 = 32%, Yr. 3 = 19%, Yr. 4 = 12%, Yr. 5 = 11%, Yr. 6 = 6%]