original data. Assume that the equipment is purchased and that the room is opened for use. However, due to an increasing number of physiotherapists in the area, the clinic is able to generate only $60,000 per year in net cash receipts from the new room. At the end of five years, the clinic closes the room and sells the equipment to a company for a cash price of $120,000. Compute the IRR to one decimal place that the clinic earned on its investment over the five-year period. (Hint: Use Microsoft Excel to calculate the discount factor(s). A useful way to proceed is to find the discount rate that will cause the net present value of the investment to be equal to, or near, zero). (Do not round intermediate calculations and round your final answers to the nearest whole number.)