Project A requires an immediate investment of 6 million to buy necessary equipment for the factory, plus an additional investment of 2 million at the end of year 2 for maintenance. The project will last for 10 years and at the end of the projects life, all equipment will be sold for 1 million. The operating cash flow of project A is as follows:

year 1 - 1.5

year 2- 1.8

year 3 - 2.5

year 4- 2.6

year 5- 2.9

The cost of capital 10%.

Calculate the net present value (NPV) and internal rate of returns (IRR) for each project.