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Kings Department Store is contemplating the purchase of a new machine at a cost of $24,032. The machine will provide $3,700 per year in cash

Kings Department Store is contemplating the purchase of a new machine at a cost of $24,032. The machine will provide $3,700 per year in cash flow for eleven years. Kings has a cost of capital of 12 percent. Use Appendix D for an approximate answer but calculate your final answer using the financial calculator method. What is the internal rate of return? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Should the project be undertaken? multiple choice Yes No

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