Rascal Clothing is evaluating a new weaving machine that costs $90,000. It is expected that the machine will generate after-tax cash flows equal to $54,000 per year for two years. Rascals required rate of return is 10 percent. Calculate the projects:

(a)internal rate of return (IRR) and

(b)modified internal rate of return (MIRR).

(c)Should the project be purchased?