Parrish Engineering is considering including two pieces of equipment, a truck and an overhead pulley system, in this year$$s capital budget. The projects are not mutually exclusive. The cash outlay for the truck is $$17,350,$ and that for the pulley system is $$24,225.$ The firm$$s cost of capital is $15\%.$ After tax cash flows, including depreciation, are as follows:

Year

Truck

Pulley

$1$

$$5,300$

$$8,100$

$2$

$5,300$

$8,100$

$3$

$5,300$

$8,100$

$4$

$5,300$

$8,100$

$5$

$5,300$

$8,100$

Calculate the IRR and NPV for each project, and indicate the correct accept$/$reject decision for each.