The Hudson Corporation makes an investment of $64,530 that provides the following cash flow: Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Year	Cash Flow
1		$31,000
2		31,000
3		19,000

a. What is the net present value at a discount rate of 8 percent? (Do not round intermediate calculations and round your answer to 2 decimal places.)

b. What is the internal rate of return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)