Skiba Company is thinking about two different modifications to its current manufacturing process. The after-tax cash flows associated with the two investments follow:

Year		Project I		Project II
0		$(100,000)		$(100,000)
1				63,857
2		134,560		63,857

Skiba's cost of capital is 8%.

Required: 1. Compute the NPV and the IRR for each investment. Round present value calculations and your final NPV answers to the nearest dollar. Round IRR answers to the nearest whole percent.