(Ignore income taxes in this problem.)Maxcy Limos,Inc.,is considering the purchase of a limousine that would cost $187,335,would have a useful life of 9 years,and would have no salvage value.The limousine would bring in cash inflows of $45,000 per year in excess of its cash operating costs.
Required:
Determine the internal rate of return on the investment in the new limousine.Show your work!

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The Answer of (Ignore income taxes in this problem.)Maxcy Limos,Inc.,is considering the purchase of a limousine that would cost $187,335,would have a useful life of 9 years,and would have no salvage value.The limousine would bring in cash inflows of $45,000 per year in excess of its cash operating costs.
Required:
Determine the internal rate of return on the investment in the new limousine.Show your work!

(Ignore Income Taxes in This Problem