Reece Corporation Is Considering the Purchase of a Machine That

Reece Corporation is considering the purchase of a machine that would cost $24,388 and would have a useful life of 6 years. The machine would generate $5600 of net annual cash inflows per year for each of the 6 years of its life. The internal rate of return on the machine would be closest to: Present Value of $1
Present Value of Annuity of $1

A) 6%.
B) 8%.
C) 10%.
D) 12%.