An R&D project will cost $50 thousand per year at the start of each of the first five years. If…

An R&D project will cost $50 thousand per year at the start of each of the first five years. If the project is successful, then the project will produce value at the end of year 10 equal to an after-tax $1 million. If unsuccessful, the work will be useless. The company’s required return is 12%. If the project is a success, what is the NPV? (Do not round intermediate numbers)

A project will cost $20 thousand to initiate. The after-tax cash flows are $6 thousand per year for four years. What is the IRR? (Give at least 4 significant digits in your answer)