Brief Exercise 24-7

Kanye Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The machine will cost $174,000, has an estimated useful life of 7 years, a salvage value of zero, and will increase net annual cash flows by $36,925.Click here to view PV table.

What is its approximate internal rate of return?(Round answer to 0 decimal place, e.g. 125.)

Internal rate of return

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