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The management of Charlton Corporation is considering the purchase of a new machine costing $580,000. The machine is expected to have a useful life of

The management of Charlton Corporation is considering the purchase of a new machine costing $580,000. The machine is expected to have a useful life of 10 years and no residual value, and an annual net cash inflow of $105,000. Determine the projects internal rate of return, using the TI BAII Plus calculator (Round to 2 decimal places).

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