Salevsky Manufacturing Company is considering the purchase of a new machine for $250,000 that will reduce manufacturing costs by $90,000 annually. Salevsky will use the 3-year MACRS accelerated method to depreciate the machine, and it expects to sell the machine at the end of its 5-year operating life for $23,000. The applicable depreciation rates are 33 percent, 45 percent, 15 percent, and 7 percent (yes, there are four years here–that’s the way it works). The firm will need to increase net operating working capital by $25,000 when the machine is installed, but required operating working capital will return to the original level when the machine is sold in 5 years. Salevsky’s marginal tax rate is 40 percent, and it uses a 10 percent cost of capital to evaluate projects of this nature. What is the project’s NPV? What is its IRR?