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6.Riverbed Hammocks is considering the purchase of a new weaving machine to prepare fabric for its hammocks. The machine under consideration costs $56,188 and will save the company $8,000 in direct labor costs. It is expected to last 10 years.(a) Calculate the internal rate of return on the weaving machine. (Round answer to 0 decimal place, e.g. 15.)Internal rate of return enter the internal rate of return in percentages rounded to 0 decimal places %(b) If Riverbed uses a 9% hurdle rate, should the company invest in the machine?

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