Pharoah Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The machine will cost $165,000, has an estimated useful life of 7 years and a salvage value of zero, and will increase net annual cash flows by $31,695. Click here to view the factor table. What is its approximate internal rate of return? (Round answer to 0 decimal place, eg. 13\%.) Internal rate of return eTextbook and Media Last saved 5 minutes ago. Attempts: 1 of 3 used Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes