Bau Long$-$Haul, Incorporated, is considering the purchase of a tractor$-$trailer that would cost $$397,607,$ would have a useful life of $7$ years, and would have

no salvage value. The tractor$-$trailer would be used in the company's hauling business, resulting in additional net cash inflows of $$79,000$ per year. The

internal rate of return on the investment in the tractor$-$trailer is closest to $($Ignore income taxes.$)$:

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using the tables provided.

Multiple Choice

$9\%$

$8\%$

$11\%$

$6\%$