You have 5 equipment rental locations and you are looking at opening a sixth location with the intention of building it up and selling it in the 7th year. Your initial investment on the project is $7,500,000 in equipment and property. Your first year returns positive cash flow of $750,000 with subsequent years as follows: Year 2 return of $1,200,000. Years 3 through 6 return of $1,500,000. In year 7 you sell the project for $7,000,000 in cash. The rental industry generally requires a return of 17%.

I calculated the NPV to be -$644,034.93

How do I solve the following questions:

1) What is the IRR?

2) What minimum sales price for the project in year 7 would you need in order to obtain a 17% IRR?