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Your firm is contemplating the purchase of a new $515,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $53,000 at the end of that time. You will save $153,000 before taxes per year in order processing costs, and you will be able to reduce working capital by $78,000 (this is a one-time reduction). If the tax rate is 21 percent, what is the IRR for this project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) The Bruin's Den Outdoor Gear is considering a new 6-year project to produce a new tent line. The equipment necessary would cost $1.27 million and be depreciated it can sell 23,000 tents per year at a price of $63 and variable costs of $24 per tent. The fixed costs will be $385,000 per year. The project will require an initial investment in net working capital of $189,000 that will be recovered at the end of the project. The required rate of return is 10.6 percent and the tax rate is 21 percent. What is the NPV? Multiple Choice $706,118 $634,948 $565,562 $809,377 $620,377