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King's Department Store is contemplating the purchase of a new machine at a cost of $26,325. The machine will provide $3,900 per year in cash
King's Department Store is contemplating the purchase of a new machine at a cost of $26,325. The machine will provide $3,900 per year in cash flow for thirteen years. King's has a cost of capital of 10 percent. Use 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. b. Should the project be undertaken? No Yes
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