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Your company is planning to invest in a new equipment that will cost $180,000 and is expected to provide the following savings over its 7- year life:

Year	Savings Estimate
1	$58,000
2	$49,000
3	$30,000
4	$28,000
5	$24,000
6	$19,000
7	$12,000

1) Suppose that the interest rate is 10%. Calculate NPV and evaluate whether the company should invest in the new equipment.

2) What is the internal rate of return (IRR) associated with the new equipment?