Please Only do this by hand. My teacher does not accept excel.

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 $62,000 and a book value of $31,000. It has five more years of straight-line depreciation available (if kept) of $6,200 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 $17,800. The market value escalation rate on this type of equipment has been averaging 4.2% per year. The total annual operating and maintenance (O&M) expense and other related expenses are averaging $26,100 per year. New automated replacement equipment would be leased. Estimated O&M and related company expenses for the new equipment are $12,900 per year. The annual leasing costs would be $23,900. The MARR (after-tax including inflation component) is 6%, 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 1%. (Round to one decimal place.) 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 $62,000 and a book value of $31,000. It has five more years of straight-line depreciation available (if kept) of $6,200 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 $17,800. The market value escalation rate on this type of equipment has been averaging 4.2% per year. The total annual operating and maintenance (O&M) expense and other related expenses are averaging $26,100 per year. New automated replacement equipment would be leased. Estimated O&M and related company expenses for the new equipment are $12,900 per year. The annual leasing costs would be $23,900. The MARR (after-tax including inflation component) is 6%, 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 1%. (Round to one decimal place.)