Piping Hot Food Services (PHFS) is evaluating a capital budgeting project that costs $60,000. The project is expected to generate after-tax cash flows equal to $16,000 per year for six years. PHFS's required rate of return is 15 percent. Compute the project's net present value (NPV). Do not round intermediate calculations. Round your answer to the nearest cent. Use a minus sign to enter a negative value, if any. $

Compute the project's internal rate of return (IRR). Round your answer to two decimal places. %

Should the project be purchased?