Current Attempt in Progress Mint Company is contemplating an investment costing $135,000. The investment will have a life of 8 years with no salvage value and will produce annual cash flows of $25,305. TABLE4 Present Value of an Annuity of 1 Payments 5% 6% 9% 10% 11% 2 3 4 5 6 7 8 9 10 4% .96154 1.88609 2.77509 3.62990 4.45182 5.24214 6.00205 6.73274 7.43533 8.11090 8.76048 9.38507 9.98565 10.56312 11.11839 11.65230 12.16567 12.65930 13.13394 13.59033 .95238 1.85941 2.72325 3.54595 4.32948 5.07569 5.78637 6.46321 7.10782 7.72173 8.30641 8.86325 9.39357 9.89864 10.37966 10.83777 11.27407 11.68959 12.08532 12.46221 .94340 1.83339 2.67301 3.46511 4.21236 4.91732 5.58238 6.20979 6.80169 7.36009 7.88687 8.38384 8.85268 9.29498 9.71225 10.10590 10.47726 10.82760 11.15812 11.46992 7% 8% 0.93458 .92593 1.80802 1.78326 2.62432 2.57710 3.38721 3.31213 4.10020 3.99271 4.76654 4.62288 5.38929 5.20637 5.97130 5.74664 6.51523 6.24689 7.02358 6.71008 7.49867 7.13896 7.94269 7.53608 8.35765 7.90378 8.74547 8.24424 9.10791 8.55948 9.44665 8.85137 9.76322 9.12164 10.05909 9.37189 10.33560 9.60360 10.59401 9.81815 .91743 .90909 .90090 1.75911 1.73554 1.71252 2.53130 2.48685 2.44371 3.23972 3.16986 3.10245 3.88965 3.79079 3.69590 4.48592 4.35526 4.23054 5.03295 4.86842 4.71220 5.53482 5.33493 5.14612 5.99525 5.75902 5.53705 6.41766 6.14457 5.88923 6.80519 6.49506 6.20652 7.16073 6.81369 6.49236 7.48690 7.10336 6.74987 7.78615 7.36669 6.98187 8.06069 7.60608 7.19087 8.31256 7.82371 7.37916 8.54363 8.02155 7.54879 8.75563 8.20141 7.70162 8.95012 8.36492 7.83929 9.12855 8.51356 7.96333 12% 15% .89286 .86957 1.69005 1.62571 2.40183 2.28323 3.03735 2.85498 3.60478 3.35216 4.11141 3.78448 4.56376 4.16042 4.96764 4.48732 5.32825 4.77158 5.650225.01877 5.93770 5.2337 6.19437 5.42062 6.42355 5.58315 6.62817 5.72448 6.81086 5.84737 6.97399 5.95424 7.11963 6.04716 7.24967 6.12797 7.36578 6.19823 7.46944 6.25933 11 12 13 14 15 16 17 18 19 20 What is the approximate internal rate of return associated with this investment? (Use the above table.) Internal rate of return 33 %