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 $72,695 and is expected to save the hospital $7,280 each year. The machine has an expected useful life of 13 years. Collapse question part

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