Coronado, Inc. is considering purchasing equipment costing $39000 with a 7-year useful life. The equipment will provide cost savings of $8700 and will be depreciated straight-line over its useful life with no salvage value. Coronado Inc. requires a 9% rate of return. What is the approximate internal rate of return for this investment? Present Value of an Annuity of 1 Period 7_% 8% 10% 11% 14% 7 5.389 5.206 5.033 4.868 4.712 4.288