NPV and IRR$$Benson Designs has prepared the following estimates for a$$ long$-$term project it is considering. The initial investment is $$$$71$ comma $970,$ and the project will yield cash inflows of $$$$9$ comma $000$ per year for $12$ years. The firm has a cost of capital of $12\%.$

a$.$Determine the net present value$($NPV$)$ for the project.

b$.$Determine the internal rate of return$($IRR$)$ for the project.

c$.$Would you recommend that the firm accept or reject the$$ project?

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Part $1$

a$.$The NPV of the project is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$