K Company must decide whether to continue using its current equipment or replace t with new, more efficient equipment. The following information is available for the current and new equipment: The current and new equipment will last for 6 years. If X Company replaces the current equipment, what is the approximate internal rate of return? A: 0.03 B: 0.04 C: 0.05 D: 0.06 E: 0.07 F: 0.08