John Deere is an American manufacturer of agricultural, construction, and forestry machinery. The company is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $$103,600.$ The equipment will have an initial cost of $$405,400$ and have a $5-$year life. The salvage value of the equipment is estimated to be $$78\mathrm{.}500$ if the discount rate is $10\%,$ what is the internal rate of return? $($Future Value of $$1,$ Present Value of $$1,$ Future Value Annuity of $$1.$ Present Value Annuity of $$1.)($Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.$)01$:$19$:$35$Multiple ChoiceBetween $6\%$ and $8\%$Between $8\%$ and $10\%$Between $12\%$ and $14\%$Between $10\%$ and $12$