Wilson Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $53,600. The equipment will have an initial cost of $605,400 and have an 8-year life. The salvage value of the equipment is estimated to be $105,400. If the hurdle rate is 10%, what is the internal rate of return? (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor from the PV tables. Round your final answer to the nearest dollar amount.) Multiple Choice Less than zero Between zero and 10% Between 10% and 15% O O More than 15%