Chromeworld has developed a new process that would produce mini units capable of chrome or copper plating parts for motorcycles. The project would cost $54 million at Year 0 to buy the equipment necessary to manufacture the mini units. The project would require net working capital at the beginning of each year in an amount equal to 9% of the year's projected sales changes; for example, NWC0 = 9%(Sales1-Sales0). The mini units would sell for $39,500 per unit, and Chromeworld believes that variable costs would amount to $30,000 per unit. After Year 1, the sales price and variable costs will increase at the inflation rate of 4%. The companys non-variable costs would be $1.85 million at Year 1 and would increase with inflation thereafter. The server project would have a life of 10 years. If the project is undertaken, it must be continued for the entire 10 years. Also, the project's returns are expected to be highly correlated with returns on the firm's other assets. The firm believes it could sell 1000 units per year. In addition, because of the toxic nature of the chemicals involved in the process the Environmental clean costs will be $3.5 million. The equipment would be depreciated as a 5-year class, using MACRS rates (20%, 32%, 19%, 12%, 12%, and 5%) over the six years of depreciation. The estimated market value of the project at the end of the projects 10-year life is $250,000. Chromeworlds federal-plus-state tax rate is 24%. Its cost of capital is 10% for average-risk projects.

Find the projects NPV, IRR, and MIRR. Should the project be accepted?