Ruiz Corporation is considering the purchase of a machine that would cost $22,710 and would have a useful life 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: Appendix 9-1 (Present value of $1 received in n periods): 11% 12% 13% 1 0.9009 0.8929 0.8850 10% 0.9091 0.8264 0.7513 2 0.8116 0.7972 0.7831 3 0.7312 0.7118 0.6931 4 0.6830 0.6587 0.6133 0.6355 0.5674 5 0.6209 0.5935 0.5428 Appendix 9-2 (Present value of an annuity of $1 per period): 10% 11% 12% 13% 1 0.9091 0.9009 0.8929 0.8850 1.6681 2 1.7355 1.7125 1.6901 3 2.4437 2.4018 2.3612 2.4868 3.1698 4 3.0373 2.9745 3.1024 3.6959 5 3.7907 3.6048 3.5172 11% 10% 13% 12%