XYZ Ltd is considering the acquisition of a machine costing $750,000. The machine is expected to have a lifespan of 6 years with no salvage value. The expected annual operating income after depreciation is $200,000. The tax rate is 25%. Present value factors for 6 years are as follows:

Discount Rate	Cumulative Factor
10%	4.355
12%	4.111
14%	3.889
16%	3.685
18%	3.498

You need to:

1. Calculate the annual depreciation.
2. Determine the annual net cash flow after tax.
3. Evaluate the NPV for each discount rate.
4. Calculate the IRR.
5. Provide a recommendation based on your findings.