Ace Corporation recently purchased a new machine for its factory operations at a cost of $95,000. The

Question:

Ace recently purchased a new machine for its factory operations at a cost of $95,000. The investment is expected to generate $250,000 in annual cash flows for a period of five years. The required rate of return is 8%. The new machine is expected to have zero at the end of the five-year period.
Instructions
Calculate the internal rate of return.
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