PI Manufacturing is looking into buying two additional manufacturing lines. Both projects are independent. The cash outlay for a manual line is $54,750, and that for the semi-automated production line is $125,500. The firms cost of capital is 14%. After-tax cash flows are listed below, note that these include depreciation. Calculate the NPV, IRR and PI for each project and indicate the correct accept/reject decision for each assessment criteria.

Year Manual Semi-Automated 1 $15,850 $30,200 2 14,750 33,750 3 13,000 30,000 4 15,890 29,575 5 14,750 31,780 6 13,000 32,000