fed Question 6 0 / 6.25 pts A new machine costs $34,000. You can sell the old one today for $4,200. The old machine is fully depreciated. The new machine will be depreciated on a MACRS 7- year schedule. The new machine will provide savings of $8,000 per year for 8 years. There is no salvage value at the end of the project. The tax rate is 30%. The discount rate is 8% Find the IRR of the Project. Here is the MACRS schedule: 1 2 3 4 5 6 7 14.29% 24.49% 17.49% 12.49% 8.93% 8.92% 8.93% 4.46% Round your answer to 3 decimal places, for example 0.166. If the answer is negative, include the negative sign, for example -0.166