Find the internal rate of return on this investment

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Question - Dinshaw Company is considering the purchase of a new machine. The invoice price of the machine is $58,301, freight charges are estimated to be $2,520, and installation costs are expected to be $7,540. The annual cost savings are expected to be $14,840 for 9 years. The firm requires a 21% rate of return. Ignore income taxes. Find the internal rate of return on this investment?

Reference no: EM132609904

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