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If the machine has no salvage value at the end of six

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James Company is considering buying a new machine costing $30,000. James estimates that the machine will save $6,900 per year in cash operating expenses for the next six years. If the machine has no salvage value at the end of six years and the discount rate used by James is 8%, then the machine"s internal rate of return is closest to:

A) 8%

B) 10%

C) 12%

D) 14%

Reference no: EM13566984

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