PMM Ltd$.$ is considering purchasing ultrasound equipment for $$110,000.$ The machine will require additional working capital of $$6,000.$ Its anticipated nine$-$year life will generate additional revenue of $$22,000$ annually with operating costs, excluding depreciation, of $$1,500.$ At the end of nine years it will have a salvage value of $$28,000$ and return $$6,000$ in working capital.

Required $($round your answer to $2$ decimal places$)$:

a$.$ If the company has a required rate of return of $10$ percent, the net present value of the proposed investment is:

b$.$ The internal rate of return is: