Current Attempt in Progress - Your answer is partially correct. Garrett Boone, Concord Enterprises' vice president of operations, needs to replace an automatic lathe on the production line. The model he is considering has a sales price of $289,300 and will last for 9 years. It will have no salvage value at the end of its useful life. Garrett estimates the new lathe will reduce raw materials scrap by $43,700 per year. He also believes the lathe will reduce energy costs by $22,500 per year. If he purchases the new lathe, he will be able to sell the old lathe for $4,441. Click here to view the factor table. (a) Calculate the lathe's internal rate of return. $ Internal rate of return % (b) If Concord Enterprises uses a 15% hurdle rate, should Garrett purchase the lathe? Yes e Textbook and Media Save for Later Attempts: 1 of 12 used Submit