5) Piece of new equipment has been proposed by engineers to increase the productivity of a certain manual welding operation. The investment cost is $35,000, and the equipment will have a market (salvage) value of $3,000 at the end of its expected life of five years. Increased productivity attributable to the equipment will amount to $10,000 per year after extra operating costs have been subtracted from the value of the additional production. Suppose that MARR is equal to 20% per year. What is the project's ERR, and is the project acceptable? (14 p.)