General Hospital is planning to add a new diagnostic machine which should improve its quality of certain blood tests. The machine under consideration has a cost of $94,397 and is expected to save the hospital $8,710 each year. The machine has an expected useful life of 16 years. Don't show me this message again for the assignment Ok Cancel

(a) Calculate the internal rate of return on the diagnostic machine. (Round answer to 0 decimal places, e.g. 16%.)

Internal rate of return

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