Acorporation expects to receive$10,000each year for8years from thesale of a product.There will be an initial investment of$40,000.Annual expenses will be$3,707per year.Assume straight-linedepreciation,an8-year useful life and no salvage value.Use a46%income tax rate.Determine the projected after-tax rate of return (show IRR calculation using book notation in your answer orhandwritten submission).