Exercise Three $(10$ Points$)$:

Jupiter Ltd$.$ wants to automate one of its production processes. The new equipment will cost $$90,000.$

In addition, Jupiter will incur installation and testing costs of $$5,000$ and $$4,500$ respectively. The equipment will require an initial investment in working capital of $$20,000$ which will be recaptured in year $5.$

The expected life of the equipment is $5$ years and the salvage value of the equipment is estimated at $$12,000.$ The annual cash savings are estimated at $$29,000.$ The company uses straight$-$line depreciation and has a required rate of return of $9\%.$ Ignore income taxes.

Required:

What is the net present value and the IRR for the investment Jupiter Ltd$.$ is considering?

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