16 5 points Phi Corporation is considering an investment that would cost $63,275, has a 3 year life and will result in annual cost savings of $25,000 in each of the three years. The internal rate of return on this project is closest to: For individuals preferring to solve with tables as presented in the text, rather than using the Excel spreadsheet covered in class, factors for the present value of an annuity for three years at various of interest rates are provided below: Periods 3 6% 2.673 7% 2.624 18% 2.577 9% 2.532 9% a 7% 8% 6% Next Previous