George William buys a machine for his business. The machine costs $150,000. George estimates that the machine can produce $40,000 cash inflow per year for the next five years. George's cost of capital is 12 percent. What is the approximate internal rate of return?

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The Answer of George William buys a machine for his business. The machine costs $150,000. George estimates that the machine can produce $40,000 cash inflow per year for the next five years. George's cost of capital is 12 percent. What is the approximate internal rate of return?

George William Buys a Machine for His Business