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(Ignore income taxes in this problem.) Hayner Limos, Inc., is considering the purchase of a limousine that would cost $149,868, would have a useful life
(Ignore income taxes in this problem.) "Hayner Limos, Inc., is considering the purchase of a limousine that would cost $149,868, would have a useful life of 9 years, and would have no salvage value. The limousine would bring in cash inflows of $36,000 per year in excess of its cash operating costs. Determine the internal rate of return on the investment in the new limousine. Show your work!"
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