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Splish Brothers, Inc. is considering purchasing equipment costing $76000 with a 6-year useful life. The equipment will provide annual cost savings of $18700 and will be depreciated straight-line over its useful life with no salvage value. Splish Brothers requires a 10% rate of return Present Value of an Annuity of 1 Period 8% 9% 10% 11% 12% 15% 6 4.623 4.486 4.355 4.231 4.111 3.784 What is the approximate internal rate of return for this investment? O 10% 9% 1296 0 1196