Your firm is contemplating the purchase of a new $480,000 computer-based order entry system. The system will be depreciated straight-line to zero over its five-year life. It will be worth $30,000 at the end of that time. You will save $145,000 before taxes per year in order processing costs, and you will be able to reduce working capital by $35,000 at the beginning of the project. Working capital will revert back to normal at the end of the project. If the tax rate is 35 percent, what is the IRR for this project? for the IRR calculating what is the PVIFA IRR% stand for i am trying to calculate it and i cant get it to work for me. I know the answer is 12.65% but i need to show how i got it and i dont know what numbers to plug in the PVIFA

In the previous problem suppose your required return on the project is 10 percent and your pretax cost savings are 155000 per year. Will you accept the project? What if the pretax cost savings are only $125000 per year?

I need step by step because i need to understand how exactly you get the answers you get. This way when i take my test i know how to calculate my answers.