Assume the following information for a capital budgeting proposal with a five-year time horizon: Initial investment: Cost of equipment (zero salvage value) $ 510,000 $ 300,000 Annual revenues and costs: Sales revenues Variable expenses Depreciation expense Fixed out-of-pocket costs $ 130,000 $ 50,000 $ 40,000 Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. This proposal's internal rate of return is closest to: Multiple Choice 8%. 13%. 69. 119