Please show all work so I can follow the stepsYour firm is contemplating the purchase of a new $595,000 computer-based order entry system. The
system will be depreciated straight-line to zero over its five-year life. It will be worth $63,000 at the end of
that time. You will save $225,000 before taxes per year in order processing costs, and you will be able to
reduce working capital by $78,000 (this is a one-time reduction). If the tax rate is 35 percent, what is the
IRR for this project? (Do not round intermediate calculations. Enter your answer as a percent rounded
to 2 decimal places (e.g., 32.16).)
IRR
%
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