Provide an explanation for each step and answer

Henrie's Drapery Service is investigating the purchase of a new machine for cleaning and blocking drapes. The machine would cost $130,400 and it would increase the company's cash inflows by $25,000 per year. The machine would have a 10-year useful life and a salvage value of $20,000. Alternatively, the company could purchase a different machine for $75,000. It would increase the company's cash inflows by $15,000 per year. The machine would have a 9 -year useful life and no salvage value. Considering a minimum required rate of return of 7.5% : a. Compute the project profitability index for both projects. b. Compute the internal rate of return for both projects (alternatively, you can compute 2 iterations of the bisection method, considering an initial interval of [0%,30%] ). c. Screen the suitability of the two projects (accept/reject) individually, using the internal rate of return. d. Rank the two projects according to project profitability index