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Aria Acoustics, Inc. (AAI), projects unit sales for a newseven-octave voice emulation implant as follows:YearUnit Sales173,000286,0003105,000497,000567,000Production of the implants will require $1,500,000 in networking capital to start and additional net working capitalinvestments each year equal to 15 percent of the projected salesincrease for the following year. Total fixed costs are $3,200,000per year, variable production costs are $255 per unit, and theunits are priced at $375 each. The equipment needed to beginproduction has an installed cost of $16,500,000. Because theimplants are intended for professional singers, this equipment isconsidered industrial machinery and thus qualifies as seven-yearMACRS property. In five years, this equipment can be sold for about20 percent of its acquisition cost. The tax rate is 21 percent taxand the required return is 18 percent.MACRS SCHEDULE:Year 1- 14,29%Year 2- 24,49%Year 3- 17,49%Year 4- 12,49%Year 5- 8,93%Year 6- 8,92%Year 7- 8,93%Year 8- 4,46%a.What is the NPV of the project?b.What is the IRR?