n in$-$depth analysis for a proposal to invest in a new machine has identified that, despite uncertainties in projections, the most probable annual operating costs would be $$24,000$ for generating $$60,000$ annual cash revenues. Initial investment for this new machine, including installation costs, is expected to be $$100,000.$ Based on estimated economic life of $5$ years and the advice of the corporate tax consultant, the original cost of the machine could be claimed as an annual depreciation expense using the straight line method $.$The tax implications of recovering a salvage value of $$20,000$ would apply to the final $(5$th$)$ year. The corporate tax rate is set at $40\%$ and the tax is paid in the year of income. The board has asked for an analysis of an appropriate discount rate but is content to use $10\%$ at this stage.

Find the following:

Cash outflow at the beginning $($round the answer to two$-$decimal places$)=$

Net Cash Flow in each of year $1$ to year $4($round the answer to two$-$decimal places$)=$

Net Cash Flow in the final $(5$th$)$ year $=($round the answer to two$-$decimal places$)$

NPV of the proposal $($round the answer to two$-$decimal places$)=$

IRR of the proposal $($round the answer in $\%$ to two$-$decimal places$)=$