IRWINDrill And Tap Set, 4-40 NC Tap and No. 43 Drill Bit (80209)

Will this drill and tap 1/16" stainless steel?

what size handle do i need for the tap?

Is it made in usa?

I have some screws that i took to home depot. they fit the nuts that said 4-40 standard. is this the correct tap and drill bit for these screws?