Joet2 Corporation has gathered the following data on a proposed investment project (ignore income taxes.) Investment required in equipment Annual cash inflows Salvage value of equipment Life of the investment Required rate of return $32,000 $ 6,800 $ a 15 years 10% The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment The Internal rate of return of the investment is closest to Multiple Choice O 22% 20% 18% 2496