Please assisst Machine XYZ:

The cost of machine XYZ is R$220000.$ It has an expected economic life of $5$ years with no residual value. Depreciation is

calculated on the straight$-$line method. The expected new cash flows are R$66000$ per annum every year for the $5-$year

period.

Omega Limited estimates that its cost of capital is $14\%.$ Calculate the internal rate of return for Machine XYZ$.$