A laser-cutting machine bought at a cost of $475,000 for a customer that had given a 5-year contract with the possibility of extending the contract for another 5 years. The company uses the MACRS depreciation method for this equipment as a 7-year property for tax purposes. The income tax rate for the company is 36%, and the company expects to have an after -tax rate of return of 15% in all its investments The laser-cutting machine generated an annual income of $94,000 for the first five years. The customer did not renew the contract. Consequently, the company ended up selling the laser-cutting machine for $285,000. Determine if the company obtained the expected after-tax rate of return on this equipment