Solve the following in an excel spreadsheet:

You own a new, boutique athletic equipment company called La La Lime. You have been presented with an opportunity to purchase new production equipment for $150,000 which will reduce costs and consequently provide after tax cash savings of $55,000 in year 1, $60,000 in year 2, and $65,000 in year 3; after that, the equipment will no longer be of use.

a) Assuming a 10% discount rate, what is the net present value of the proposed investment? Should you proceed with purchasing the equipment based on your calculated net present value?

b) What is the calculated internal rate of return on the proposed investment, rounded to the nearest tenth of percent? (I tried IRR function and it doesn't work for me)