Moore Inc. is considering purchasing equipment costing $60,000 with a 6-year useful life. The equipment will...

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Moore Inc. is considering purchasing equipment costing $60,000 with a 6-year useful life. The equipment will provide cost savings of $13,375 and will be depreciated straight-line over its useful life with no salvage value. Moore requires a 10% rate of return. Annuity of 1 Present Value of an Period 8% 9% 10% 11% 12% 15% 6 4.623 4.486 4.355 4.231 4.111 3.784 What is the approximate internal rate of return for this investment? 11% 12% 10% 9% Moore Inc. is considering purchasing equipment costing $60,000 with a 6-year useful life. The equipment will provide cost savings of $13,375 and will be depreciated straight-line over its useful life with no salvage value. Moore requires a 10% rate of return. Annuity of 1 Present Value of an Period 8% 9% 10% 11% 12% 15% 6 4.623 4.486 4.355 4.231 4.111 3.784 What is the approximate internal rate of return for this investment? 11% 12% 10% 9%