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Aria Acoustics, Inc. (AAI), projects unit sales for a newseven-octave voice emulation implant as follows:Year Unit Sales1 76,0002 89,0003 108,7504 101,5005 68,800Production of the implants will require $2,250,000 in networking capital to start and additional net working capitalinvestments each year equal to 20 percent of the projected salesincrease for the following year. Total fixed costs are $4,700,000per year, variable production costs are $270 per unit, and theunits are priced at $420 each. The equipment needed to beginproduction has an installed cost of $19,500,000. 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 about25 percent of its acquisition cost. The tax rate is 25 percent therequired return is 15 percent. MACRS schedulea. What is the NPV of the project? (Do not round intermediatecalculations and round your answer to 2 decimal places, e.g.,32.16.)b. What is the IRR? (Do not round intermediate calculations andenter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)