Your firm is comtemplating the purchase of a new $749,000 computer-based order entry system. The system will be depreciated straight-line to zero over its seven-years life. It will be worth $45,000 at the end of time. You will save $165,000 before taxes per year in order processing costs, and you will be able to reduce working capital by $40,000 at the beginning of the project. ?working capital will revert back to normal at the end of the project. If the tax rate is 40 percent, what is the IRR for this project?

annual depreciation charge 749000/7

annual depreciation charge= 107000

The aftertax salvage value= 45,000(1-.40)= 27,000

OCF = 165,000(1-.40) + .40(107,000)= 99,000 + 42,800= 141,800

i am lost after this please don't put it on excel need it broken down