Dinshaw Company is considering the purchase of a new machine. The invoice price of the machine is $79,509, freight charges are estimated to be $2,660, and installation costs are expected to be $7,910. The annual cost savings are expected to be $14,660 for 10 years. The firm requires a 22% rate of return. Ignore income taxes. What is the internal rate of return on this investment? (Round answer to 0 decimal places, e.g. 15%.) Click here to view PV table.

Internal rate of return

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