Concord, Inc. is considering purchasing equipment costing $36000 with a 6-year useful life. The equipment will provide cost savings of $9500 and will be depreciated straight-line over its useful life with no salvage value. Concord Inc. requires a 12% rate of return. What is the approximate internal rate of return for this investment? Period 6 13% O 12% O 11% 14% 10% 4.355 Present Value of an Annuity of 1 11% 4.231 12% 4.111 13% 3.998 14% 3.889 17% 3.589

Concord, Inc. is considering purchasing equipment costing $36000 with a b-year useful life. The equipment will provide cost sivings of $9500 and will be depreciated straight-fine over its useful life with no salvage value. Concord Inc. requires a 12%, rate of return What is the approximate internal rate of return for this imvestment? 13%12%