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Sheffeld, Inc. is considering purchasing equipment costing $43000 with a 7 -year useful life. The equipment will provide cost savings of $9500 and will be

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Sheffeld, Inc. is considering purchasing equipment costing $43000 with a 7 -year useful life. The equipment will provide cost savings of $9500 and will be depreciated straight-line over its useful life with no salvage value. Sheffield inc. requires a 8% rate of return. What is the approximate internal rate of return for this investment

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