PC Shopping Network may upgrade its modem pool. It last upgraded $2$ years ago, when it spent $$155$ million on equipment with an assumed life of $5$ years and an assumed salvage value of $$25$ million for tax purposes. The firm uses straight$-$line depreciation. The old equipment can be sold today for $$110$ million. A new modem pool can be installed today for $$180$ million. This will have a $3-$year life and will be depreciated to zero using straight$-$line depreciation. The new equipment will enable the firm to increase sales by $$24$ million per year and decrease operating costs by $$12$ million per year. At the end of $3$ years, the new equipment will be worthless. Assume the firm$$s tax rate is $30\%$ and the discount rate for projects of this sort is $15\%.$

a$)$

What is the net cash flow at time $0$ if the old equipment is replaced? $($Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.$)$

b$.$ What are the incremental cash flows in years $1,2,$ and $3?($Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.$)$

c$.$ What are the NPV and IRR of the replacement project? $($Do not round intermediate calculations. Enter the NPV in millions rounded to $2$ decimal places. Enter the IRR as a percent rounded to $2$ decimal places.$)$