The Pan American Bottling Company is considering the purchase of a new machine that would increase the speed of bottling and save money. The net cost of this machine is $$72,000.$ The annual cash flows have the following projections. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.YearCash Flow$1$$ $29,000233,000335,000421,000518,000$If the cost of capital is $12$ percent, what is the net present value of selecting a new machine?Note: Do not round intermediate calculations and round your final answer to $2$ decimal places. What is the internal rate of return?