Please view the following video before answering this question. Video Solution: 06.01-PRO13 Click here to access the TVM Factor Table Calculator Bailey, Inc., is considering buying a new gang punch that would allow them to produce circuit boards more efficiently. The punch has a first cost of $100,000 and a useful life of 15 years. At the end of its useful life, the punch has no salvage value. Labor costs would increase $1,500 per year using the gang punch, but raw material costs would decrease $9,500 per year. MARR is 5%/year. Parta Your answer is incorrect. What is the internal rate of return of this investment