A company is evaluating a project that requires an initial investment of $80,000 pesos. In the first year, it will generate profits of $30,000, and these earnings will increase by 10% each year. The project's lifespan is 5 years, and it has a salvage value of $20,000. The company's required rate of return is 6%.

Calculate the Net Annual Value (NAV) of the project and determine whether the company should accept or reject it. If the company only accepts projects with rates 5% higher than its required rate of return, calculate the Internal Rate of Return (IRR) and decide whether to accept or reject it based on this criterion.