Your project organization must decide whether to invest in a project opportunity. The following information is available to you.

Initial cash outflow $=$ $$200,000$ in the current year $($Year $0),$ and $$50,000$ in the next year.

Cash inflows $=$ $$75,000$ in Year $1,$ $$100,000$ in Year $2,$ $$150,000$ in Year $3,$ and $$25,000$ in Year $4$

Required rate of return $=15\%$

Inflation rate $=4\%$

a$.$ Calculate the NPV for this project.

b$.$ Calculate the IRR for this project.