Internal Rate of Return Jardin Company produces a variety of gardening tools and aids. The company is examining the possibility of investing In a new production system that will reduce the costs of the current system. The new system will require a cash investment of $2,303,600 and will produce net cash savings of $400,000 per year. The system has a projected life of nine years. 1. Calculate the internal rate of return for the new production system. Follow the format shown in Exhibit 14B-2 as you complete the requirement below. Round your answer to the nearest whole percentage. %