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3. Calculate IRR. Your Client, AA Leasing Co. is preparing a contract to lease a machine to Souvenir Co. for a period of 25 years.

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3. Calculate IRR. Your Client, AA Leasing Co. is preparing a contract to lease a machine to Souvenir Co. for a period of 25 years. AA has an investment cost of $365,755 in the machine, which has a useful life of 25 years and no salvage value at the end of that time. Your client is interested in earning an 11% return on its investment and has agreed to accept 25 equal annual rental payments at the end of each of the next 25 years. Compute the amount of each of the rental payments

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