The investment of $476608 in a surface mount placement (SMP) machine is expected to reduce manufacturing costs by $92,500 per year. At the end of the 10-year planning horizon, it is expected the SMP machine will be worth $50,000. Using a 10% MARR, calculate the external rate of return for this investment. (HINT: give the answer in percentage form without the % symbol).

CORRECT ANSWER = 12.33%

please provide step by step usinf Excell