(Ignore income taxes in this problem. )The management of Eastridge Corporation is considering the purchase of a machine that would cost $50,470 and would have a useful life of 7 years.The machine would have no salvage value.The machine would reduce labor and other operating costs by $14,000 per year.
Required:
Determine the internal rate of return on the investment in the new machine.Show your work!

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The Answer of (Ignore income taxes in this problem. )The management of Eastridge Corporation is considering the purchase of a machine that would cost $50,470 and would have a useful life of 7 years.The machine would have no salvage value.The machine would reduce labor and other operating costs by $14,000 per year.
Required:
Determine the internal rate of return on the investment in the new machine.Show your work!

(Ignore Income Taxes in This Problem