4)

You buy a new piece of equipment for $27,729, and you receive a cash inflow of $4,400 per year for 14 years. UseAppendix Dfor an approximate answer but calculate your final answer using the financial calculator method.

What is the internal rate of return?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Internal rate of return

%

rev: 02_11_2015_QC_CS-7555