2) A successful financial planning partnership is assessing the introduction of a new computer system to improve regulatory reporting compliance. The managing partner wants to install a new Extra Plan system, whereas another partner prefers the Plan Perfection system. Each machine provides the same record-keeping ability, and can provide the required information to the regulator. The initial cost of each system is $180,000, but because of differing software maintenance, and processing requirements, estimates of the after-tax costs of operation differ. These are as follows: Period Extra Plan 38,000 49,000 49,000 49,000 49,000 49,000 5,000 Plan Perfection 55,000 60,000 63,000 63,000 51,000 The firm has an after tax weighted cost of capital of 9.45 per cent. A) Can you determine the IRR for each project? Explain. B) Determine the NPV for each project. Which project does NPV suggest you recommend? C) Is NPV the correct tool with which to make your recommendations? Explain. D) Using an appropriate method, determine which system you would recommend to the partnership. Identify the calculations that support your decision