Problem 12-13 Internal rate of return [LO12-4] Home Security Systems is analyzing the purchase of manufacturing equipment that will cost $48,000. The annual cash inflows for the next three years will be: Year 1 2 3 Cash Flow $ 24,000 22,000 17,000 Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the financial calculator method. a. Determine the internal rate of return. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Internal rate of return % b. With a cost of capital of 16 percent, should the equipment be purchased? No Yes