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King's Department Store is considering the purchase of a new machine at a cost of $24,712. The machine will provide $4,300 per year in cash

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King's Department Store is considering the purchase of a new machine at a cost of $24,712. The machine will provide $4,300 per year in cash flow for eight years. King's cost of capital is 10 percent. a. What is the IRR? (Use a Financial calculator to arrive at the answers. Round the final answer to the nearest whole percent.) IRR % b. Using the IRR method, evaluate this project and indicate whether it should be undertaken. Yes No

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