Diamond Manufacturing Company provides glassware machines for major department store retailers. The company has been investigating a new piece of machinery for its production department. The old equipment has a remaining life of five years and the new equipment will cost $94,775 with a(n) five-year life. The expected additional cash inflows are $25,000 per year. What is the internal rate of return? 4% 6% 10% 12%

Diamond Manufacturing Company provides glassware machines for major department store retailers. The company has been investigating a new piece of machinery for its production department. The old equipment has a remaining life of five years and the new equipment will cost $94,775 with a(n) five-year life. The expected additional cash inflows are $25,000 per year. What is the internal rate of return? 4% 6% 10% 12%