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Sandhill Company is evaluating the purchase of a rebuilt spot$-$welding machine to be used in the manufacture of a new product. The machine will cost $$169,000,$ has an estimated useful life of $7$ years and a salvage value of zero, and will increase net annual cash flows by $$37,035.$ Click here to view PV table.

What is its approximate internal rate of return? $($Round answer to O decimal places, e$.$g$.13\%.)$

Internal rate of return $\%$

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