Byron Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $103,000. The equipment will have an initial cost of $404,500 and have a 5-year life. The salvage value of the equipment is estimoted to be $78,000. If the hurdle rate is 10%, what is the internal rate of return? (Future Value of $1. Present Value of $1. Future Volue Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount) Multiple Choice Between 12% and 14% Between 6% and 8% O Between 0% and 10% Between 10 and 12%