Problem 2 SMU is considering the purchase of a large tractor-pulled law mower. At present, the lawn is mowed using a small hand-pushed gas mower. The large tractor-pulled mower will cost P 169,500 and will have a life of 10 years. It will have a negligible scrap value, which can be ignored. The tractor pulled mower would do the job more quickly than the old mower and would result in a labor savings of P 30,000 per year. Required: Compute the internal rate of return