Should the firm accept the project? Calculate NPV and IRR and please don't use excel!!

3. Your firm is considering the purchase of a $5,000 machine, which has a life of 5 years and will be depreciated to a final book value of $1,000 by the straight-line method. The machine will produce 2,000 tiles per year, with each costing $4 to make and priced at $5. In order for the machine to work, an increase in net working capital of $1,000 is required at the beginning and it will be fully recovered at the end of year 5 . The used machine can be expected to sell at $3,000 five years later. Assume that the discount rate is 6%, the firm is profitable, and the tax rate is 40%