A new machine that costs $201,981 is expected to save annual cash operating costs of $60,000 over each of the next eight years. Using the tables that follow, the machine's internal rate of return is: \begin{tabular}{ccccccccccc} \hline & \multicolumn{10}{c}{ Present Value of $1} \\ Periods & 48 & 68 & 88 & 108 & 128 & 148 & 168 & 188 & 208 \\ \hline 1 & 0.962 & 0.943 & 0.926 & 0.909 & 0.893 & 0.877 & 0.862 & 0.847 & 0.833 \\ 2 & 0.925 & 0.890 & 0.857 & 0.826 & 0.797 & 0.769 & 0.743 & 0.718 & 0.694 \\ 3 & 0.889 & 0.840 & 0.794 & 0.751 & 0.712 & 0.675 & 0.641 & 0.609 & 0.579 \\ 4 & 0.855 & 0.792 & 0.735 & 0.683 & 0.636 & 0.592 & 0.552 & 0.516 & 0.482 \\ 5 & 0.822 & 0.747 & 0.681 & 0.621 & 0.567 & 0.519 & 0.476 & 0.437 & 0.402 \\ 6 & 0.790 & 0.705 & 0.630 & 0.564 & 0.507 & 0.456 & 0.410 & 0.370 & 0.335 \\ 7 & 0.760 & 0.665 & 0.583 & 0.513 & 0.452 & 0.400 & 0.354 & 0.314 & 0.279 \\ 8 & 0.731 & 0.627 & 0.540 & 0.467 & 0.404 & 0.351 & 0.305 & 0.266 & 0.233 \\ 9 & 0.703 & 0.592 & 0.500 & 0.424 & 0.361 & 0.308 & 0.263 & 0.225 & 0.194 \\ 10 & 0.676 & 0.558 & 0.463 & 0.386 & 0.322 & 0.270 & 0.227 & 0.191 & 0.162 \\ \hline \end{tabular} Multiple Choice None of the answers is correct. approximately 27%. approximately 21%. approximately 23% approximately 25%