Question: A new machine is estimated to cost $200,000 and reduce net annual operating expenses by $36,000 for 10 years and have a market value of $30,000 at the end of the 10th year. Assume the firm is in the $335k-$10M taxable income bracket and the state tax rate is 6%. The machine is MACRS 7-year property class. The after-tax MARR is 10%/year. Calculate the before-tax and after-tax IRR, and NPW using manual solutions. Show all of your work in the space provided below and on the back of this sheet. For the rate of return you must perform a linear interpolation that includes a graph of the PW versus i and all calculations required