Aria Acoustics, Inc. $($AAI$),$ projects unit sales for a new

seven$-$octave voice emulation implant as follows: Year Unit Sales $1$

$89,0002102,0003116,0004111,000592,000$ Production of the

implants will require $$1,680,000$ in net working capital to start

and additional net working capital investments each year equal to

$20$ percent of the projected sales increase for the following year.

Total fixed costs are $$1,580,000$ per year, variable production

costs are $$305$ per unit, and the units are priced at $$420$ each. The

equipment needed to begin production has an installed cost of

$$21,800,000.$ Because the implants are intended for professional

singers, this equipment is considered industrial machinery and thus

qualifies as seven$-$year MACRS property. In five years, this

equipment can be sold for about $25$ percent of its acquisition cost.

AAI is in the $30$ percent marginal tax bracket and has a required

return on all its projects of $19$ percent. $($MACRS

schedule$)$What is the NPV of the project?What is the IRR? $($in $$)$