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10 pts Question 23 Company C is considering investing in a new piece of equipment that will cost $230,000. Company C estimates that the equipment
10 pts Question 23 Company C is considering investing in a new piece of equipment that will cost $230,000. Company C estimates that the equipment will generate $40,000 in annual cash inflows per year for 9 years. At that time, the equipment will be worthless. Using the table below, which % is closest to the IRR of the equipment? Present Value of Annuity of $1: Periods 8% 10% 12% 14% 16% 6 4.623 4.355 4.111 3.889 3.685 7 5.206 4.868 4.564 4.288 4.039 5.747 5.335 4.968 4.639 4.344 9 6.247 5.759 5.328 4.946 4.607 10 6.710 6.145 5.650 5.216 4.833 ENTER YOUR ANSWER AS AN INTEGER, NOT A DECIMAL. FOR EXAMPLE, for 6%, enter 6
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