Beyond-Say Corp. is considering purchasing $55,000 of music recording equipment. The equipment has a market resale value of $3,000 and is expected to be used over the next four years. Net income after taxes is estimated to be $4,200. The companys required rate of return is 10% and the company uses the straight-line method. The tax rate is 40%. How much is the projects IRR?

Group of answer choices

0%

(3.08%)

(17.94%)

10.84%

Some other answer