The local supermarket is considering investing in self-checkout kiosks for its customers. The self-checkout kiosks will cost $49,500 and have no residual value. Management expects the equipment to result in net cash savings over three years as customers grow accustomed to using the new technology: $16,000 the first year; $22,000 the second year; $27,000 the third year. The company has already determined that the net present value of the investment at a 14% discount rate is $(325). What is the approximate internal rate of return (IRR) of the kiosk investment? (Click the icon to view the present value of an annuity table.) 5 (Click the icon to view the present value table.) (Click the icon to view the future value of an annuity table.) 5 (Click the icon to view the future value table.) Since the NPV at 14% is , the IRR must be 14%. Now calculate the NPV at 12%. (Round your answer to the nearest whole dollar. Use parentheses or a minus sign for a negative NPV.) The NPV is $ D . The NPV is at 12%. Therefore, the IRR must be