Wilson Athletic has developed a new golf ball that consistently flies 20% further than their old balls. With the worldwide market for golf balls at 3 million dozen, Wilson believes their new ball is revolutionary enough to capture 8% of that market in the first year and 15% in the second through fifth year of production. Wilson plans on selling this ball at premium to the price of other balls at $36.00 per dozen. However, variable costs per dozen are also relatively high due to the specialized nature of the manufacturing - $21. To reach their sales goals, Wilson plans to pay $1.5 million in advertising and $2.2 million in player endorsement contracts per year that Wilson makes the ball. Wilson will also have to add on to its existing factory and add new equipment that will (in total) cost $2.2 million before the start of production. This facility will require $250,000 in utilities and maintenance per year of manufacturing. This building and equipment will have a five year life and can be sold for $50,000 at the end of five years. Wilson's tax rate is 40% and discount rate/cost of capital is 12%. What is the NPV and IRR for the new golf ball project? Should Wilson proceed with the project?