ABC

Company is considering a project that will initially cost

$10

million and will have annual benefits of

$3

million per year in years 1 to 5 ;

$2

million per year in years 6 to 10 ; and

$1

million per year in years 11 to 15.\ Given that the project utilizes special equipment, there is a requirement that they be maintained at a cost of

$500,000

in years

3,6,9

, and 12 .\ If the company's rate of require is

5%

, what is the Internal Rate of Return for this project?\ Round the pecentage to two decimal places. For example,

12.345%

is written as

12.35%

.

ABC Company is considering a project that will initially cost $10 million and will have annual benefits of $3 million per year in years 1 to 5;$2 million per year in years 6 to 10 ; and $1 million per year in years 11 to 15. Given that the project utilizes special equipment, there is a requirement that they be maintained at a cost of $500,000 in years 3,6,9, and 12 . If the company's rate of require is 5%, what is the Internal Rate of Return for this project? Round the pecentage to two decimal places. For example, 12.345% is written as 12.35%