Assume that a company is considering buying a new piece of equipment for $240,000 that would have a useful life of five years and no salvage value. The equipment would generate the following estimated annual revenues and expenses: $ 114,900 Revenues Less operating expenses: Commissions Insurance Depreciation Maintenance Net operating income $ 15,000 5,000 48,000 30,000 98,000 $ 16,900 Click here to view Exhibit 12B-1 and Exhibit 12B-2. to determine the appropriate discount factor(s) using the tables provided. The internal rate of return for this investment is closest to: Multiple Choice 13% 9% 15% 11