Bruno Corporation is involved in the business of injection molding of plastics. It is considering the purchase of a new computer-aided design and manufacturing machine for $428,200. The company believes that with this new machine it will improve productivity and increase quality, resulting in an increase in net annual cash flows of $101,216 for the next 6 years. Management requires a 10% rate of return on all new investments. Click here to view PV table. Calculate the internal rate of return on this new machine

Please elaborate functions used and if done in excel include the equation for learning purposes.

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