Q$4.$ Thurston Petroleum is considering a new project that complements its existing

business. The machine required for the project costs $$4\mathrm{.}1$ million. The marketing

department predicts that sales related to the project will be $2\mathrm{.}35$ million per year

for the next four years, after which the market will cease to exist. The machine

will be depreciated to zero over its $4-$year economic life using the straight$-$line

method. Cost of goods sold and operating expenses related to the project are

predicted to be $25$ percent of sales. The company also needs to add net working

capital of $$150,000$ immediately. The additional net working capital will be

recovered in full at the end of project's life. The corporate tax rate is $25$ percent

and the required return for the project is $13$ percent. Should the company proceed

with the project? Compute NPV$,$ IRR, MIRR to support your answer. $(25$ points$)$