Ch $14F15$

$($i$)$

Part $6$ of $15$

$0\mathrm{.}33$

points

Print

$4$

Required information

$[$The following information applies to the questions displayed below.$]$

Cardinal Company is considering a five$-$year project that would require a $$2,975,000$ investment in equipment with a useful life of five years and no salvage value. The company's discount rate is $14\%.$ The project would provide net operating income in each of five years as follows:

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using table.

$6.$ What is the project's internal rate of return? $($Round your answer to nearest whole percent.$)$

Project's internal rate of return