You are evaluating a potential investment with an initial cost of $150,000. The project is expected to generate the following cash flows over the next 7 years:

• Year 1: $25,000
• Year 2: $30,000
• Year 3: $35,000
• Year 4: $40,000
• Year 5: $45,000
• Year 6: $50,000
• Year 7: $55,000

The required rate of return is 12%. Determine the NPV and IRR for the project. Use the provided table for the PV calculations and the IRR estimation.