The Following Data Concern an Investment Project $$\begin{array} { | l | l |} \hline\text { Discournt rate } & \$ 14 \%\\\hline\end{array}$$

The following data concern an investment project:
$\begin{array}{|l|r|}\hline \text { Investment in Equipment } & \$ 16,000 \\\hline \text { Net Annual cash inflows } & \$ 3,600 \\\hline \text { Working capital required } & \$ 4,500 \\\hline \text { Salvage value of the equipment } & \$ 2,000 \\\hline \text { Life of the project } & \$ 12 \text { years } \\\hline\end{array}$
$$\begin{array} { | l | l |} \hline\text { Discournt rate } & \$ 14 \%\\\hline\end{array}$$ The working capital will be released for use elsewhere at the conclusion of the project.(Ignore income taxes in this problem.)
Required:
Calculate the project's net present value and the internal rate of return.