Sunland, Inc. is considering purchasing equipment costing $52000 with a 6-year useful life. The equipment will provide annual cost savings of $12649 and will be depreciated straight-line over its useful life with no salvage value. Sunland requires a 10% rate of return.

Question 16 Sunland, Inc. is considering purchasing equipment costing $52000 with a 6-year useful life. The equipment will provide annual cost savings of $12649 and will be depreciated straight-line over its useful life with no salvage value. Sunland requires a 10% rate of return. Period 6 8% 4.623 Present Value of an Annuity of 1 9% 10% 11% 12% 4.486 4.355 4.231 4.111 15% 3.784 What is the approximate internal rate of return for this investment? O 10% O 11% 0 12% 0 9%