Refer to Present Value Tables. Eye Appeal is considering an investment costing $24,000. The investment would return $10,000 per year in each of three years. The company requires a minimum rate of return of 6%.
Required:
A. Calculate the payback period for the investment.
B. Calculate the net present value of the investment.
C. The internal rate of return is greater than __________________% and less than __________________%.

Question

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The Answer of Refer to Present Value Tables. Eye Appeal is considering an investment costing $24,000. The investment would return $10,000 per year in each of three years. The company requires a minimum rate of return of 6%.
Required:
A. Calculate the payback period for the investment.
B. Calculate the net present value of the investment.
C. The internal rate of return is greater than __________________% and less than __________________%.