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Flounder Hammocks is considering the purchase of a new weaving machine to prepare fabric for its hammocks. The machine under consideration costs $85,714 and will

Flounder Hammocks is considering the purchase of a new weaving machine to prepare fabric for its hammocks. The machine under consideration costs $85,714 and will save the company $13,600 in direct labor costs. It is expected to last 14 years.

a) Calculate the internal rate of return on the weaving machine.

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