13. Metairie, Inc. is considering a capital investment (equipment) costing $55,000 with a 7-yea useful life, and equal annual net cash flows. The equipment has an acceptable net present value $1,815, calculated at 10%. What is the approximate internal rate of return of this investment (use the following table)? Present Value of an Annuity of 1 Payments 7 10% 4.868 11% 4.712 12% 4.563 a. 11% b. 12% c. 10% d. 9% 14. The expected average rate of return for a proposed investment of $600,000 in equipment (asset), with a useful life of five years, no residual value, and an expected total net income of $240,000 for 5 years is: a. 40% b. 50% c. 16% d. 80%