NOK Plastics is considering the acquisition of a new plastic injection-molding machine to make a line of plastic fittings. The cost of the machine and dies is $125,000. Shipping and installation is another $8,000.

NOK estimates it will need a $10,000 investment in net working capital initially, which will be recovered at the end of the life of the equipment. Sales of the new plastic fittings are expected to be $350,000 annually.

Cost of goods sold are expected to be 50% of sales. Additional operating expenses are projected to be $115,000 per year over the machines expected 5-year useful life. The machine will be depreciated using a 5-year MACRS class life. The equipment will be sold at the end of its useful life (5 years) for $35,000. The tax rate is 25% and the relevant discount rate is 15%.

Calculate the net present value (NPV) and internal rate of return (IRR) and state whether the project should be accepted.

Please use excel sheet to answer the question and provide the formula inside the excel thanks!