X Company is considering the purchase of a new machine that would enable the company to increase production and sales of one of its products by 5,085 units; contribution margin of this product is $6.00 per unit. The machine would cost $150,000, last for four years, and have zero salvage value at the end of its life. 8. Assuming a discount rate of 7%, what is the net present value of buying the new machine? Submit Answer Tries 0/4 9. If the new machine will last for six years instead of four, what is the approximate internal rate of return of buying it? [enter your answer as .XX, so 1% would be .01] Submit Answer Tries 0/4