The Green Goddess Company is considering the purchase of a new machine that would increase the speed of manufacturing tires and save money. The net cost of the new machine is $60,000. The annual cash flows have the following projections. (Use a Financial calculator to arrive at the answers.)

Year Cash Flow 1 $23,000 2 26,000 3 29,000 4 15,000 5 8,000

a. If the cost of capital is 13 percent, what is the NPV? (Round the final answer to the nearest whole dollar.) NPV $

b. What is the IRR? (Round the final answer to 2 decimal places.) IRR %