An injection molding machine can be purchased and installed for $\backslash (\backslash$$ $120,000\backslash ).$ It is in the seven$-$year GDS property class and is expected to be kept in service for eight years. It is believed that $\backslash (\backslash$$ $8,000\backslash )$ can be obtained when the machine is disposed of at the end of year eight. The net annual value added $($i$.$e$.,$ revenues less expenses$)$ that can be attributed to this machine is constant over eight years and amounts to $\backslash (\backslash$$ $17,000\backslash ).$ An effective income tax rate of $\backslash (24\backslash \%\backslash )$ is used by the company, and the after$-$tax MARR equals $\backslash (8\backslash \%\backslash )$ per year.

Click the icon to view the GDS Recovery Rates $\backslash (\backslash$left$($r$\_\{$k$\}\backslash$right$)\backslash )$ for the $7-$year property class.

a$.$ What is the approximate value of the company's before$-$tax MARR?

The before$-$tax MARR is $\backslash \%.($Round to the nearest whole number.$)$

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