Return to question 4 Problem 12-18 10 points Elgin Restaurant Supplies is analyzing the purchase of manufacturing equipment that will cost $62,000. The annual cash Inflows are as follows. Use Arpendix D Year 1 Cash Flow $31,000 29,000 24,000 a. Determine the IRR using interpolation. (Round the Intermediate calculations to the nearest whole dollar. Round the final answer to 2 decimal places.) IRR 16.67% b. With a cost of capital of 16 percent, should the machine be purchased? Yes No c. With information from part b, compute the PI. (Round the final answer to 3 decimal places.) PI 1.027