Brown Corporation recently purchased a new machine for $$402,600$ with a ten$-$year life. The old equipment has a remaining life of ten years and no disposal value at the time of replacement. Net annual cash flows will be $$60,000$ per year. What is the internal rate of return? Present value factor of ordinary annuity at $8\%$ for $10$ years is $6\mathrm{.}710,$ at $10\%$ is $6\mathrm{.}145$ and at $12\%$ is $5\mathrm{.}65.$

Select one:

A$.$ Between $8\%$ and $10\%$

B$.8\%$

C$.12\%$

D$.10\%$