East Coast Clothing Company is considering manufacturing a new style of shirt, whose data are shown below. The equipment to be used would be depreciated by straight line over its 3-year life and would have a salvage value $12,000, and $10,000 in new working capital would be required. Revenues and other operating costs are expected to be constant over the project's 3-year life. However, this project would compete with other products and reduce their pre-tax annual cash flows. What is the project's NPV and IRR? Should the company accept or reject the project and why? Please use excel to answer along with format of cells

Cost of capital	10.0%
Pre-tax cash flow reduction for other products	$5,000
Investment cost	$80,000
Sales revenues, each year for 3 years	$67,500
Annual operating costs (excl. deprec.)	$25,000
Tax rate	21.0%