An investment of $20,000 for a new condenser is being considered. Estimated salvage value of the condenser is $5,000 at the end of an estimated life of 6 years. Annual income each year for the 6 years is $8,500. Annual operat- ing expenses are $2,300. Assume money is worth 15% compounded annually. Determine the internal rate of return and whether or not the condenser should be purchased.