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 $18,120 per year. In addition, the machine would enable the company to increase production and sales of one of its products by 2,100 units; contribution margin of this product is $5.90 per unit. The machine would cost $150,000, last for four years, and have zero salvage value at the end of its life. 

1. Assuming a discount rate of 8%, what is the net present value of buying the new machine? 

A: $-41,838 

B: $-48,951 

C: $-57,273 

D: $-67,009 

E: $-78,400 

F: $-91,728 

2. If the new machine will last for six years instead of four, what is the approximate internal rate of return of buying it?