Please view the following video before answering this question. Excel Video Lessont RATE Financial Function Click here to access the TVM Factor Table Calculator Bailey, Inc, is considering buying a new gang punch that would allow them to produce circuit boards more efficiently. The punch has a first cost of $105,000 and a useful life of 15 years. At the end of its useful life, the punch has no salvage value. Labor costs would increase $3,200 per year using the gang punch, but raw material costs would decrease $12.250 per year. MARR is 5%/ vear. Part a Your answer is incorrect. What is the internal rate of return of this investment? Please view the following video before answering this question. Excel Video Lessont RATE Financial Function Click here to access the TVM Factor Table Calculator Bailey, Inc, is considering buying a new gang punch that would allow them to produce circuit boards more efficiently. The punch has a first cost of $105,000 and a useful life of 15 years. At the end of its useful life, the punch has no salvage value. Labor costs would increase $3,200 per year using the gang punch, but raw material costs would decrease $12.250 per year. MARR is 5%/ vear. Part a Your answer is incorrect. What is the internal rate of return of this investment