Question $7$ of $10$

Marigold, Inc. is considering purchasing equipment costing $$22000$ with a $7-$year useful life. The equipment will provide cost savings of $$5130$ and will be depreciated straight$-$line over its useful life with no salvage value. Marigold inc. requires a $12\%$ rate of return. What is the approximate internal rate of return for this investment?

$\backslash$table$[[$Period$,$Present Value of an Annuity of $1],[10\%,11\%,12\%,13\%,14\%,17\%$