Can someone explain this with work shown? please and thank you.

. The Spirit Cell Phone Project is considering purchasing a new injection-molding plastic machine for the cell-phone case due to capacity issues with existing machines and the opportunity to employ new technology manufacturing hardware. The machine will cost $450,000 in up-front payment. The net cash flow is $300,000 the first year and $200,000 thereafter. Millennium Systems has set a hurdle rate at 3% above the current 10 year treasury rate of 3.0%. Compute the IRR for the machine and determine if it exceeds the hurdle rate