(Ignore income taxes in this problem.) Golab Roofing is considering the purchase of a crane that would cost $69,846,would have a useful life of 6 years,and would have no salvage value.The use of the crane would result in labor savings of $21,000 per year.The internal rate of return on the investment in the crane is closest to:
A) 18%
B) 20%
C) 19%
D) 17%
Correct Answer:
Verified
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