X Company is considering the purchase of a new machine. The machine would reduce the amount of part-time labor, at a cost savings of $18,550 per year. In addition, the machine would enable the company to increase production and sales of one of its products by 2,300 units; contribution margin of this product is $5.20 per unit. The machine would cost $150,000, last for five years, and have zero salvage value at the end of its life. 8. Assuming a discount rate of 8%, what is the net present value of buying the new machine? A: $-4,395 B: $-6,373 C: $-9,241 Submit Answer Tries 0/991 D: $-13,400 E: $-19,430 F: $-28,174 9. If the new machine will last for six years instead of five, what is the approximate internal rate of return of buying it? A: 0.03 B: 0.04 C: 0.05 D: 0.06 E: 0.07 F: 0.08