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Palm Beach Park Department is considering a new capital investment. The following information is available on the investment. The cost of the machine will be

Palm Beach Park Department is considering a new capital investment. The following information is available on the investment. The cost of the machine will be $432,576. The annual cost savings if the new machine is acquired will be $120,000. The machine will have a 5-year life, at which time the terminal disposal value is expected to be zero. Palm Beach Park Department is assuming no tax consequences. What is the internal rate of return for Palm Beach Park Department?

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