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Virtual-Utility Ltd. Is involved in the business of making high quality furniture. It is considering the purchase of a new manufacturing machine for $470,000. The

Virtual-Utility Ltd. Is involved in the business of making high quality furniture. It is considering the purchase of a new manufacturing machine for $470,000. The company believes that this new machine will improve productivity and increase quality, resulting in a $69,080 increase in net annual cash flows for the next ten years. Management requires a 13.5% rate of return on all new investments. Find the IRR Factor on this new machine.

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