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I need to know what the Internal Rate of Return is. Please show your work. Thank you in advance. Purchase of new equipment: $250,000.00 Expected

I need to know what the Internal Rate of Return is. Please show your work. Thank you in advance.

Purchase of new equipment: $250,000.00

Expected annual increase in sales: $48,017.50

Time frame: 7 years

Acceptable rate needed: 9%

I used a PV of Annuity Table to determine the PV of annuity factor of 5.03295 (7 years at 9%)

Internal Rate of Return (IRR) _______?

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