Taffy industries is considering purchasing equipment costing $60,000 with a 6-year useful life. The equipment will provide cost savings of $14,600 and will be depreciated straight-line over its useful life with no salvage value. Taffy industries requires a 10% rate of return. What is the approximate internal rate of return for this investment? A). 9% B). 10% C). 11% D) 12%