Your company is launching a new product. They are depending on you to provide financial guidance. Your task is to provide a financial analysis whether the company should go forward with the project or not. The financial informational is as follows:

The company will have to spend 100,000 for its' initial investment. The expected cash flow after taxes are as follows:Year 1:(40,000) Year 2: 1,000 Year 3: 600,000. The companies required rate of return is 10%, the effective tax rate is 21%, 25% of the expenses from the initial investment can be amortized nor depreciated. Please assume a three-year amortization/depreciation schedule.

Calculate the IRR and NPV of the project.