(b) Orange Company has just bought a machine for $50,000 and is able to save $20,000 from its operating cost in the first year. In subsequent years, the savings will be reduced by $3,000 until the 5th year, after which the machine will be scrapped with a residual value of $5,000. Depreciations of the machine will be calculated using the Sum of Years' Digits (SOYD) method. The tax rate for the company is flat at 20%. Present the After Tax Cash Flows (ATCF) from year 0 to year 5 in a table format and determine the IRR for the company. (Hint: Use PWB - PWC = 0, where PWB is the Present Worth of Benefits and PWC is the Present Worth of Costs) (15 marks)