A company is considering investing in a new machine that requires a cash payment of $51,939 today. The machine will generate annual cash flows of $20,885 for the next three years.

What is the internal rate of return if the company buys this machine? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

Amount Invested	-	Annual Net Cash Flow	=	Present Value Factor
Internal Rate of Return		%