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Ignore income taxes in this problem.) Crockin Corporation is considering a machine that will save $6,000 a year in cash operating costs each year for

Ignore income taxes in this problem.) Crockin Corporation is considering a machine that will save $6,000 a year in cash operating costs each year for the next six years. At the end of six years it would have no salvage value. If this machine costs $29,502 now, the machine's internal rate of return is closest to:

Click here to view Exhibit 8B-1 and Exhibit 8B-2 to determine the appropriate discount factor(s) using tables.

a. 4%

b. 5%

c. 6%

d. 7%

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