tangshan mining company is considering investing in a new mining project. The firm's cost of capital is 12 percent and the project is expected to have an initial after-tax cost of $5,000,000. Furthermore, the project is expected to provide after-tax operating cash flows of $2,300,000 in year 2, $2,200,000 in year 3, and ($1,300,000) in year 4. a. Calculate the project's NPV. b. Calculate the projects's IRR. c. Should the firm make the investment?

According to my professor, the solutions are NPV -$194,380 and IRR 9.11%. Please show work to find NPV solution of -$194,380, and IRR solution of 9.11%. <--These are the answers, I need to see how these answers were calculated, please do not submit an answer if your answers aren't NPV -$194,380 and IRR 9.11%. Thank you