Pringles Chips is considering to start a new production plan that will improve production efficiency. The plan requires a machine that costs $1,500,000 and will be used for four years. The machine follows straight line depreciation over 8 year period, and reach zero value after eight years. If Pringles sell the machine after 4 year of completing the plan, the salvage value of the machine at year 4 is $600,000. Year by year, the plan will improve sales by $100,000 every year for the next four years. That is, sale increases by $100,000 in year 1, $200,000 in year 2, $300,000 in year 3 and $400,000 in year 4. The plan will require an initial net working capital of $30,000 that will be recovered at the end of the plan. If the tax rate is 40% and discount rate is 12%, calculate the NPV and IRR of this plan by filling up the following blanks. Keep your answers in 2 decimal places.

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