King's Department Store is contemplating the purchase of a new machine at a cost of $29,929. The machine will provide $4,400 per year in cash flow for nine years. King's has a cost of capital of 11 percent. Use Appendix D for an approximate answer but calculate your final answer using the financial calculator method. a. What is the internal rate of return? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Internal rate of return % b. Should the project be undertaken? Yes No