Please show your work.

1) A firm is considering a new project. The project is expected to generate sales of 15,000 units per year. Units will sell at $14 each. Variable costs are expected to be $8 each for the first year, $7 each thereafter. Fixed costs will be $5,000 per year. The machine used to make the products will cost $100,000 to install and will be depreciated over a MACRS 3 year life. The project is expected to exists for exactly four years. Working capital requirements will be $10,000. At the end of the project, the machine will be sold for $20,000. The tax rate is 38%. What is the NPV of this project if the interest rate is 10%?

2)A new process is expected to generate sales of $100,000 in the first year, increasing by 15% each year for the following 3 years. Variable costs are expected to be 29% of sales. Fixed costs are expected to be $10,000 per year. Working capital is expected to be 20% of the next years sales. A fully-depreciated machine to produce our product is already in place in our plant and can be sold for $20,000 today. If the machine is used to make the products, it will be worthless in 4 years. The project will last 4 years. The interest rate is 12%. The tax rate is 42%. What is the NPV of this project?