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Renfroe Corporation is considering the purchase of a machine that would cost $22, 712 and would have a useful Mo of 5 years. The machine

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Renfroe Corporation is considering the purchase of a machine that would cost $22, 712 and would have a useful Mo of 5 years. The machine would generate $6, 300 of net annual cash inflows per year for each of the 5 years of its life. The internal rate of return on the machine would be closest to (The present value of annuity for this scenario is 3.605.) A. 12% B. 14% C. 8% D. 10%

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