Ryker Manufacturing Is Evaluating Investing in a New Metal Stamping

Ryker Manufacturing is evaluating investing in a new metal stamping machine costing $80,458. Ryker estimates that it will realize $14,000 in annual cash inflows for each year of the machine's 8-year useful life. The internal rate of return (IRR) for the machine is approximately: Present Value of $1
Present Value of Annuity of $1

A) 8%.
B) 12%.
C) 4%.
D) 6%.