Question 18 Novak, Inc. is considering purchasing equipment costing $78000 with a 6-year useful life. The equipment will provide annual cost savings of $18973 and will be depreciated straight-line over its useful life with no salvage value. Novak 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? 12% 11% o o o o O 9% 10% Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SUBMIT ANSWER to search o e 6:47 PM 7/20/2020