The internal rate of return method is used by Royston Construction Co$.$ in analyzing a capital expenditure proposal that involves an investment of $$60,408$ and annual net cash flows of $$18,000$ for each of the $5$ years of its useful life.

$\backslash$table$[[$Present Value of an Annuity of $$1$ at Compound Interest,,,,,$],[$Year$,6\%,10\%,12\%,15\%,20\%$