Kings Department Store is contemplating the purchase of a new machine at a cost of $19,169. The machine will provide $4,200 per year in cash flow for seven years. Kings has a cost of capital of 9 percent.

a. What is the internal rate of return? (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?

• No

• Yes