Problem $10-50$ Project Evaluation $($LO$2)$ Aylmer$-$in$-$You $($AIY$)$ Inc. projects unit sales for a new opera tenor emulation implant as follows:

Year Unit Sales

$1108,000$

$2124,000$

$3135,000$

$4157,000$

$596,000$

Production of the implants will require $$804,000$ in net working capital to start and additional net working capital investments each year equal to $10\%$ of the projected sales increase for the following year. $($Because sales are expected to fall in Year $5,$ there is no NWC cash flow occurring for Year $4.)$ Total fixed costs are $$193,000$ per year, variable production costs are $$293$ per unit, and the units are priced at $$400$ each. The equipment needed to begin production has an installed cost of $$20\mathrm{.}5$ million. Because the implants are intended for professional singers, this equipment is considered industrial machinery and thus falls into Class $8$ for tax purposes $(20\%).$ In five years, this equipment can be sold for about $15\%$ of its acquisition cost. AlY is in the $35\%$ marginal tax bracket and has a required return on all its projects of $24\%.$ Based on these preliminary project estimates, what is the NPV of the project? What is the IRR? $($Enter your answer in dollars, not in millions of dollars, i$.$e$.1,234,567.$ Do not round your intermediate calculations. Round the final answers to $2$ decimal places. Omit $ sign in your response.$)$