$(20$ points$)$ Determine the IRR $by$ trial and error $(not$ Excel function$)$ for the following cash flow situation. $A$

company invests $$100,000in$ a new piece $of$ equipment subject $to$ annual $O$&$M$ costs $of$ $$2,500$ per year. $At$ the

end $of$ year $5,an$ overhaul costing $$7,500is$ expected. The machine $is$ expected $to$ generate these benefits:

After year $10,$ the equipment $is$ sold for $$3,000.$