Your company is considering an expansion into a new product area. The company has collected the following information about the proposed product. (Note: You may or may not need to use all of this information, use only the information that is relevant.) . The project has an anticipated economic life of 4 years. The company will have to purchase a new machine to produce the product. The machine has an up-front cost (T = 0) of $500.000. The machine will be depreciated on a straight-line basis over 4 years (that is, the company's depreciation expense will be $125,000 in each of the first four years (T = 1. 2. 3. and 4). The company anticipates that the machine will last for at least four years, and that after four years its before-tax salvage value will equal $50,000. If the company goes ahead with the project, it will have an effect on the company's net working capital. At the outset, T = 0. inventory will increase by $40.000 and accounts payable will increase by $20.000. At T = 4, the networking capital will be recovered after the project is completed. The project is expected to produce EBIT of $300,000 the first year (T = 1). $250,000 the second and third years (T-2 and 3), and $200,000 the fourth year (T-4). These values already include operating costs that are expected to equal 50 percent of sales revenue and depreciation expense. The company's interest expense cach year will be $40,000. . Because of externalities, the new project is expected to decrease the after-tax cash flows of the company's existing products by $20.000 a year (T = 1, 2, 3, and 4) and this is considered to be incremental to this particular project . The company's overall WACC is 8 percent. However, the proposed project is more risky than the average project, leading the firm to use a WACC of 10 percent for this project. The company's tax rate is 40 percent. Determine the IRR for this project