Carry-Along is debating whether or not to invest in new equipment to manufacture a line of high- quality luggage. The new equipment would cost $1,000,000, with an estimated four-year life and a $15,000 salvage value. The estimated annual operating results with the new equipment are as follows: Revenue from sales of new luggage line $925,000 Expenses other than depreciation $625,000 Depreciation (straight-line basis) 250,000 (875,000 Increase in net income from the new line $50,000 All revenue from the new luggage line and all expenses (except depreciation) will be received or paid in cash in the same period as recognized for accounting purposes. Using a 9% discount rate, you are to compute the following for the investment in the new equipment to produce the new luggage line: Internal Rate of Return (Enter as percentage. 15% would be entered as 15)