You must evaluate the purchase of a proposed spectrometer for your company that will save the company $80,000 per year in before-tax labor costs. The base price is $185,000 but it would cost another $40,000 to make required modifications. Also, $26,000 would need to be spent to add additional net working capital. The equipment would be depreciated using MACRS over a three-year life. The 3-year MACRS rates are 33%,45%,15%, and 7%, respectively. In three years, it will be sold for an estimated $75,000. The firm's marginal tax rate is 24% and its WACC is 8%. What is the initial outlay for the spectrometer? $185,000 $211,000 $225,000 $251,000 $286,000 Project Leonidas costs $75,000 and is expected to produce cash flows of $19,000 per year for 6 years. If the company's WACC is 7%, what is the project's internal rate of return (IRR)? 6.72% 7.17% 8.56% (D) 10.55% 13.46%