Bramble, Inc. is considering purchasing equipment costing $28000 with a 7-year useful life. The equipment will provide cost savings of $5700 and will be depreciated straight-line over its useful life with no salvage value. Bramble Inc. requires a 8% rate of return. What is the approximate internal rate of return for this investment? Period 7 9% 8% 10% O 7% 6% 5.582 Present Value of an Annuity of 1 7% 5.389 8% 5.206 9% 5.033 10% 4.868 13% 4.423

Bramble, Inc. is considering purchasing equipment costing $28000 with a 7 -year useful life. The equipment will provide cost savings of $5700 and will be depreciated straight-line over its useful fife with no salvage value. Bramble inc, requires a 8% rate of return. What is the approximate internal rate of retum for this investment? 9% 8% 10% 7%