Assume that a company is considering purchasing a machine for $$50,000$ that will have a five$-$year useful life and no salvage value. The machine will lower operating costs by $$17,000$ per year. The internal rate of return on this investment is closest to:

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using the tables provided.

Multiple Choice

$23\%.$

$21\%.$

$24\%.$

$19\%.$