You buy a new piece of equipment for $29,731, and you receive a cash inflow of $3,800 per year for 16 years. Use Appendix D for an approximate answer but calculate your final answer using the financial calculator method.

What is the internal rate of return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

1 i)" Appendlx D Present value of an annulty of $1,PW Percent Period 1%, 2%. 4%. 5%. 6% 7% 8% 9%. 10% 11%. 12%. 0.990 0.980 0.97 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.901 0.893 970 1.942 1.913 1.886 1.859 1.833 .808 783 759 1.736 1.713 1.690 2.487 2.444. 2.402 2.94 2.884. 2.829 2.723 2.673 2.624 2.577 2.53 2.775 3.902 3.808 3.6300 3.546 3.465 3.387 3.312 3.240 3.170 3.102 3.037 4.853 4.713 4.580 4.4522. 4.329 4.212 4.100 3.993 3.890 3.79 3.696 3.605 5.795 5.60 5.417 5.242 5.076 4.917 4.767 4.623 4.486 4.355 4.231 6.728 6.472 6.2300 6.002 5.786 5.582 5.389 5.206 5.033 4.868 4.712 4.564. 7.662 7.325 7.020 6.733 6.463 6.210 5.971 5.747 5.535 5.335 5.146 4.968 8.566 8.162 7.786 7.435 7.108 6.802 6.515 6.247 5.995 5.759 5.537 5.328 10 9.47 8.983 8.530 8.1 7.722 7.360 7.024 6.710 6.418 6.145 5.889 5.650 9.787 7.887 7.499 7.139 6.207 10.368 9.253 8.760 8.306 6.805 5.938 8.384 12 11.255 10.575 9.954 9.385 8.863 7.943 7.536 7.16 6.814 6.492 6.194 13 12.134 11.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.750 6.424 11.296 10.563 14 13.004. 12.106 9.899 9.295 8.745 8.244 7.786 7.367 6.982 6.628 15 13,865 12.849 11.938 11.118 10.380 9.712 9.108 8.559 8.061 7.606 7.191 6.8 16 14,718 13,578 12.56 11.652 10.838 10.106 9.447 8.851 8.313 7.824 7.379 6.974 17 15.562 14.292 13.166 12.166 11.274 10.477 9.763 9.122 8.544 8.022 7.549 7.120 7.702 7.250 18 6.398 14.992 13.754 12.659 11.690 10.828 10.059 9.372 8.756 8.20 10.336 19 17.226 15.678 14.324 13.134 12.085 11.158 9.604 8.950 8.365 7.839 7.366 20 18.046 16.35 14.877 13.590 12.462 11.470 10.594 9.818 9.129 8.514 7.963 7.469 22.023 19.523 10.675 25 17.413 15.622 14.094 12.783 11.654 9.823 9.077 8.422 7.843 30 25.808 22.396 19.600 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.694 8.055 40 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11,925 10,757 9.779 8.951 8.244 31.424. 25.7300 21.482 18.256 15.762 13,801 2.233 10,962 9.915 9.042 8.304 Appendix D (concluded) Percent Period 13%. 14%. 15% 16% 17% 18% 19% 20% 25% 35% 50% 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833 0.800 0.769 0.74 0.714 0.667 1.668 1.647 1.626 1.605 1.585 1.566 .547 1.528 1.440 1.361 1.289 1.224. 2.361 2.322 2.283 2.246 2.210 2.174 2.140 2.106 1.952 1.816 1.696 1.589 1.407 2.589 2.974 2.914 2.855 2.798 2.743 2.690 2.639 2.362 2.166 1.997 1.849 1.605 2.035 3.517 3.433 3.352 3.274. 3.199 3.127 3.058 2.991 2.689 2.436 2.220 1.737 3.998 3.889 3.784, 3.685 3.589 3.498 3.410 3.326 2.951 2.643 2.385 2.168 1.824, 4,423 4.288 4.1600 4.039 3.922 3.812 3.706 3.605 3.161 2.802 2.508 2.263 1.883 4,799 4.639 4.487 4.344. 4.207 4.078 3.954 3,837 3,329 2.925 2.598 2.33 1.922 5.132 4.946 4.772 4.607 4.45 4.303 4.163 4,031 3.463 3.019 2.665 2.379 1.948 5.426 5.216 5.019 4.833 4.659 4.339 4.192 3.571 3.092 2.715 2.414 1.965 4.494 2.438 5.687 5.453 5.234 5.029 4.836 4.656 4.486 4.327 3.656 3.147 2.752 1.977 4.988 12 5.918 5.660 5.42 5.197 4.793 4.611 4.439 3.725 3.190 2.779 2.456 1.985 2.469 13 6.122 5.842 5.583 5.342 5.118 4.910 4.715 4.533 3.780 3.223 2.799 1.990 14 6.302 6.002 5.724 5.468 5.229 5.008 4.802 4.6 3.824 3.249 2.814 2.478 1.993 15 6.462 6.142 5.847 5.575 5.324 5.092 4.876 675 3.859 3.268 2.825 2.484 1.995 3.283 2.834. 2.489 16 6.604. 6.265 5.954. 5.668 5.405 5.162 4.938 4.730 3.887 997 17 6.729 6.373 6.047 5.749 5.475 5.222 4.988 4.775 3.910 3.295 2.840 2.492 3.928 18 6.840 6.467 5.818 5.534. 5.273 5.033 4.812 3.304 2.844. 2.494. 1.999 19 6.938 6.550 6.198 5.877 5.584. 5.316 5.070 4.843 3.942 3.311 2.848 2.496 1.999 7.025 6.623 6.259 5.929 5.628 5.353 5.101 4.870 3.954 3.316 2.850 2.497 1.999 25 7.330 6.873 6.464 6.097 5.766 5.467 5.195 4.948 3.985 3.329 2.856 2.499 2.000 7.496 7.003 6.566 5.829 5.517 5.235 4.979 3.995 3.332 2.857 2.500 2.000 7.634. 7.105 6.642 6.233 5.871 5.548 5.258 4.997 3.999 3.333 2.857 2.500 2.000 500 7.675 7.133 6.661 6.246 5.880 5.554 5.262 4.999 4.000 3.333 2.857 2.500 2.000