Current Attempt in Progress

Whispering Winds Corporation recently purchased a new machine for its factory operations at a cost of $$1,011,930.$ The investment is

expected togenerate $$267,000$ in annual cash flows for a period of five velars. The required rate of return is $8\%.$ The new machine is

expected to have zero salvage value at the end of the five$-$year period.

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Calculate the internal rate of return. $($Round answer to $0$ decimal places, e$.$g$.15\%.)$

Internal rate of return