assume the following information for a capital budgeting proposal with a five$-$year time horizon: initial investment: cost of equipment $($zero salvage value$)600,000.$ Annual revenues and costs: sales revenues $300,000,$ variable expenses $130,000,$ depreciation expense $50,000,$ fixed out$-$of$-$pocket costs $40,000.$ use present value of $$1$ and present value of annuity of $$1$ in arrears, if necessary. this proposal's IRR is closest to: $3\%,8\%,1\%,6\%.$