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Reece Corporation is considering the purchase of a machine that would cost $24,388 and would have a useful life of 6 years. The machine would

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Reece Corporation is considering the purchase of a machine that would cost $24,388 and would have a useful life of 6 years. The machine would generate $5600 of net annual cash inflows per year for each of the 6 years of its life. The internal rate of retum on the machine would be closest to: Present Value of S1 Present Value of Annuity of $1

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