You have been asked by the president of your company to evaluate proposed project involving a spectrometer. The equipment's base price is $$140,000,$ and it would cost another $$20,000$ to modify it for special use by your firm. The spectrometer, which falls into the MACRS $3-$year class, would be sold after $3$ years for $$50,000.$ The applicable depreciation rates are $33$ percent, $45$ percent, $15$ percent, and $7$ percent. Use of the equipment would require an increase in net operating working capital $($spare parts inventory$)$ of $$20,000.$ The spectrometer would bring in $$110,000$ in revenue per year for each of three years with $$50,000$ per year in operating costs per year. The firm's marginal federal$-$plus$-$state tax rate is $25$ percent.

If the project$$s cost of capital is $9$ percent, find the NPV and MIRR for the project $?$

a$.$ Calculate the cash flows for the project

$.$

b$.$ Find the NPV and MIRR for the project