Newport Corporation is considering the purchase of a new piece of equipment. The cost savings from the equipment would result an increase in net cash flow of $203800. The equipment will have an initial cost of $905700 and a 6-year useful life with no salvege value if the the cost of capitalis 10% what is the internal rate of return?

Multiple Choice

Less than zero

Between 10% and 12%

Between 6% and 8%

Between 8% and 10%