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Windsor, Inc. is considering purchasing equipment costing $42000 with a 6 -year useful life. The equipment will provide annual cost savings of $10216 and will

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Windsor, Inc. is considering purchasing equipment costing $42000 with a 6 -year useful life. The equipment will provide annual cost savings of $10216 and will be depreciated straight-line over its useful life with no salvage value. Windsor requires a 10% rate of return. What is the approximate internal rate of return for this investment? 11% 12% 9% 10%

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