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The NPV and IRR methods are interrelated and are often used together to make capital budgeting decisions. The project has the same risk as the firm’s average project. Although you don’t know the project’s initial cost, you have been told that the project has an IRR of 11.3%. Your boss wants to accept the project because the project’s IRR exceeds the WACC of 10.0%, but another manager has mentioned that the NPV should be considered. Although you do not know the value of the project’s initial investment, your boss would like you to evaluate a project with the following cash inflows: Year Cash Flow 1 $425,000 2 $375,000 3 $500,000 4 $500,000 You plan to start the calculation s by estimating the initial investment using information available to you . IRR is the cost of capita l at which NPV equals $0. Using this information, the initial investment of the project turns out to be _______ and the NPV of the project is _____ (numbers only with no decimals).