BACK NEXT Multiple Choice Question 108 Pharoah, Inc. is considering purchasing equipment costing $80000 with a 6-year useful life. The equipment will provide annual cost savings of $19460 and will be depreciated straight line over its useful life with no salvage value. Pharoah requires a 10% rate of return. Period 6 8% 4.623 Present Value of an Annuity of 1 9% 10% 11% 12% 4.486 4.355 4.231 4.111 15% 3.784 What is the approximate Internal rate of return for this investment? 11% 12% 10% click it o u ld like to Show Work for this question: Open Shona Wodk with no attempts available Question Attempts: 0 of 1 used SUBMIT ANSWER 10:22 AM vere to search (hp) 7 8