3) The Coil Corporation recently purchased a new machine for its factory operations at a cost of $550,530. The investment is expected to generate $135,000 in annual cash flows for a period of eight years. The required rate of return is 14%. The old machine has a remaining life of eight years. The new machine is expected to have zero value at the end of the eight-year period. The disposal value of the old machine at the time of replacement is zero. Compute the internal rate of return. T

3) The Coil Corporation recently purchased a new machine for its factory operations at a cost of $550,530. The investment is expected to generate $135,000 in annual cash flows for a period of eight years. The required rate of return is 14%. The old machine has a remaining life of eight years. The new machine is expected to have zero value at the end of the eight-year period. The disposal value of the old machine at the time of replacement is zero. Compute the internal rate of return