In 2018, a certain manufacturing company has some existing semi-automated production equipment which they are considering replacing. This equipment has a present market value of $57,000 and a book value of $29,000. It has five more years of straight-line depreciation available (if kept) of $5,800 per year, at which time its BV would be zero. The estimated market value of the equipment five years from now (in year 0 dollars) is $18,200. The market value escalation rate on this type of equipment has been averaging 4.1% per year. The total annual operating and maintenance (O & M) expense and other related expenses are averaging $26,500 per year New automated replacement equipment would be leased. Estimated O & M and related company expenses for the new equipment are S12600 per year. The annual leasing costs would be $24.600. The MARR after-tax including inflation component is 9%, the effective tax rate is 25%, and the study period is five years. Based on an after-tax, AS analysis, should the new equipment be leased? Use the IRR method. The actual IRR on the incremental cash flows is %. (Round to one decimal place.)