An investment of $20,000 is being considered for a new condenser. The estimated salvage value of the capacitor is $5,000 at the end of an estimated useful life of 6 years. The annual income each year for the 6 years is $8,500. Annual operating expenses are $2,300. Assume money is worth 15% compounded annually. 

Determine the internal rate of return and whether or not to purchase the capacitor.