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Using the information in the following chart, the IRR of this project is $q,\%.$

ASC, Inc. is considering the production of a new line of soft drinks at its Springfield, II plant.

The CFO of ASC, Inc. is provided with the following information on the new project:

The expansion will require the immediate purchase of new machinery for $$39,000,000$

The firm has spent $$1,000,000$ to train workers to use the new machinery.

The incremental sales from this project are expected to be $$21,300,000$ per year. The incremental operating expenses $($excluding depreciation$)$ are expected to equal $$11,300,000$ per year.

The company uses straight$-$line depreciation. The project has an economic life of $20$ years. The machinery has a salvage value of $$1,000,000$ and will be sold for that amount at the conclusion of the project.

The company will increase net working capital by $$1,200,000$ at the beginning of the project, and it will be liquidated at the end of the project.

ASC Inc.$\text{'}$s marginal tax rate is $40\%.$

ASC Inc.$\text{'}$s weighted average cost of capital $($WACC$)$ is $14\%.$

$16\mathrm{.}28$

$19\mathrm{.}40$

$14\mathrm{.}88$

None of the answers in this list is within $0\mathrm{.}05$ percentage points of the correct answer.

$16\mathrm{.}85$

$16\mathrm{.}00$