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Quinn Industries is considering the purchase of a machine that would cost $420,000 and would last for 8 years. At the end of 8 years, the machine would have a salvage value of $92,500. The machine would reduce labor and other costs by $88,000 per year. The company requires a minimum pretax return of 12% on all investment projects. (Ignore income taxes.) 
Required:  
Compute the net present value of the project by inputting the variables that are entered into your calculator / Excel. (If a variable is not used in the calculation, input a zero (0). Omit the "$" and "%" signs in your response.) Round your answer to the nearest dollar and use a minus sign for negative numbers. Excel / calculator input:

Required: 
Compute the internal rate of return of the project by inputting the variables that are entered into your calculator / Excel. (If a variable is not used in the calculation, input a zero (0). Omit the "$" and "%" signs in your response.) Round your answer to one decimal place and use a minus sign for negative numbers. 
Excel / calculator input:
Interest Rate (Rate, I, I/YR)  % 
Nper, N

PMT  $ 
PV  $ 
FV  $ 
Internal Rate of Return (IRR)  % 
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