Blue Spruce Hammocks is considering the purchase of a new weaving machine to prepare fabric for its hammocks. The machine under consideration costs

$73,600$ and will save the company $10,000$ in direct labor costs. It is expected to last $10$ years.

$($a$)$ Calculate the internal rate of return on the weaving machine: $($Round answer to $0$ decimal place, e$.$g$.15)$

Internal rate of return

$($b$)$ If Blue Spruce uses a $8\%$ hurdle rate, should the company invest in the machine?