Vernon Manufacturing Company has an opportunity to purchase some technologically advanced equipment that will reduce the company's cash outflow for operating expenses by $$1,270,000$ per year. The cost of the equipment is $$7,540,877,73.$ Vernon expects it to have a $11-$year useful life and a zero salvage value. The company has established an investment opportunity hurdle rate of $11$ percent and uses the straight$-$Iine method for depreciation. $($PV of $$1$ and PVA of $$1)$

Note: Use opproprlate factor$($s$)$ from the tobles provided.

Required

Q$.$ Calculate the internal rate of return of the investment opportunity

Note: Do not round intermedlate calculations.

b$.$ Indicate whether the Investment opportunity should be accepted

Answer is complete but not entirely correct.

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