Tovar Toasters is considering an equipment investment that will cost $960,000. Projected net cash inflows over the equipment's three-year life are as follows: Year 1: $500,000; Year 2: $386,000; and Year 3: $302,000. Tovar wants to know the equipment's IRR. (Click the icon to view the present value annuity table.) (Click the icon to view the future value annuity table.) Requirement (Click the icon to view the present value factor table.) (Click the icon to view the future value factor table.) Use trial and error to find the IRR within a 2% range. (Hint: Use Tovar's hurdle rate of 10% to begin the trial-and-error process.) Use a business calculator or spreadsheet to compute the exact IRR. Begin by calculating the NPV at three rates: 10%, 12%, and 14%. (Round your answers to the nearest whole dollar. Use parentheses or a minus sign for negative net present values.) The NPV at 10% is $ 40,138 The NPV at 12% is $ 9,166 The NPV at 14% is $(20,816) The IRR is somewhere between 12% and 14%, but closer to 12% (Round your answer to two decimal places.) The exact IRR using a business calculator or spreadsheet is %.