Question: Company must decide whether to continue using its current equipment or replace it with new, more efficient equipment. The following information is available for the

Company must decide whether to continue using its current equipment or replace it with new, more efficient equipment. The following information is available for the current and new equipment: Current equipment Current sales value $18,000 Final sales value 2,910 Operating costs 61,520 New equipment Purchase cost $168,000 Final sales value 2,910 Operating costs 29,070 The current and new equipment will last for 6 years. If X Company replaces the current equipment, what is the approximate internal rate of return?

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