Armada Inc. is considering an investment in energy saving equipment that would provide an internal rate of return of 10%. The required initial investment is $48,680 and the project would generate annual cost savings of $0.00 per year. Armada uses an 8% discount rate to make capital budgeting decisions. What is the useful life of the new equipment? (Round to one decimal point.) 4.2 years O 5 8 years O 6.3 years 70 years None of the above