Current Attempt in Progress X Your answer is incorrect. Frost Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The machine will cost $172,000, has an estimated useful life of 7 years and a salvage value of zero, and will increase net annual cash flows by $37,688. Click here to view PV table. What is its approximate internal rate of return? (Round answer to O decimal places, eg. 16%.) Internal rate of return 11 %