Question: does anyone nnow how to do this question problem??? its mangerial accounting thank youuuuuu Exercise 24-20A (Algo) IRR for investment using Excel LO P4 OptiLux
Exercise 24-20A (Algo) IRR for investment using Excel LO P4 OptiLux is considering investing in an automated manufacturing system. The system requires an initial invertment of $5.0 miliion, has a 20-year life, and will have zero salvage value. If the system is implemented, the compary will save $620,000 per year in direct labor costs. The company requires a 10% return from its investments. Using Excel, compute the internal rate of return for the proposed investment. (Round your answer to 2 decimal places.)
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