(Related to Checkpoint 11.1) (Net present value calculation) Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $6,000,000 and would generate annual net cash inflows of $1,200,000 per year for 9 years. Calculate the project's NPV using a discount rate of 5 percent. If the discount rate is 5 percent, then the project's NPV is $ (Round to the nearest dollar.) (IRR calculation) Determine the internal rate of return on the following project: An initial outlay of $11,000 resulting in a cash inflow of $2,017 at the end of each year for the next 11 years. The internal rate of return of the project is %. (Round to the nearest whole percent.)