The Tin Man needs to purchase a new machine costing $1.46 million Management is estimating the machine will generate cash inflows of $223,000 the first year and $600,000 for the following three years of management requires a minimum 12 percent rate of return, should the firm purchase this particular machine based on its IRR? Why or why not? Yes, because the IRR is 10.75 percent Yes, because the IRR is 12.74 percent No, because the IRR is 10.75 percent No, because the IRR is 12.74 percent The answer cannot be determined as there are multiple IRRs