Bramble Company manufactures automobile components for the worldwide market. The company has three large production facilities in Virginia, New Jersey, and California, which have been operating for many years. Brett Harker, vice president of production, believes it is time to upgrade operations by implementing computer-integrated manufacturing (CIM) at one of the plants. Brett has asked corporate controller Connie Carson to gather information about the costs and benefits of implementing CIM. Carson has gathered the following data: Initial equipment cost $ 7,500,000 $ 500,000 Working capital required at start-up Salvage value of existing equipment $ 93,750 Annual operating cost savings $ 1,050,000 Salvage value of new equipment at end of its useful life $ 250,000 Working capital released at end of its useful life $ 500,000 Useful life of equipment 10 years Bramble Company uses a 12% discount rate. Click here to view the factor table. (b) Your answer is incorrect. Use Excel or a similar spreadsheet application to calculate the internal rate of return on Bramble's proposed investment. (Round internal rate of return to 2 decimal places, e.g. 15.25%.) Internal rate of return % e Textbook and Media Save for Later Attempts: 2 of 3 used Submit Answer (d) The parts of this question must be completed in order. This part will be available when you complete the part above