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Leven Products, Inc., is investigating the purchase ofa new grinding machine that has a projected life of 15 years. it is estimated that the machine

Leven Products, Inc., is investigating the purchase ofa new grinding machine that has a projected life of 15 years. it is estimated that the machine will save $20,000 per year in cash operating costs. what is the machine's internal rate of return if it costs $111,500 new?

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