Choices: 25%, 19%, 21%, 23%

Joetz Corporation has gathered the following data on a proposed Investment project (Ignore income taxes.) $34,500 $ 7,800 Investment required in equipment Annual cash inflows Salvage value of equipment Life of the investment Required rate of return 15 years 10% The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factors) using the tables provided. The internal rate of return of the investment is closest to