Olive Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $250,800. The equipment will have an initial cost of $1,301,200 and have an 8-year life. There is no salvage value for the equipment. If the hurdie rate is 10%, what is the internal rate of return? Ignore Income taxes. (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate factor from the PV tables, Round your final answer to the nearest dollar amount.) Multiple Choice less than zero Between 8% and 10% Greater than 10% Between 6 and B