Q2. A firm purchased some equipment at a very favorable price of $30,000. The equipment r an annual net saving of $1000 per year resulted in during the 8 years it was used. At the end of 8 years, the equipment was sold for $30,000. Assuming interest rate at 12% compounded monthly Cakulate the IRR value of the equipment? Also draw the cash flow diagram. (6 marks)