Question: Show Attempt History Current Attempt in Progress Your answer is incorrect. Pharoah Company is evaluating the purchase of a rebuilt spot-welding machine to be used

Show Attempt History Current Attempt in Progress Your answer is incorrect. Pharoah 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 $176,000, has an estimated useful life of 7 years and a salvage value of zero, and will increase net annual cash flows by $38,565. Click here to view the factor table. What is its approximate internal rate of return? (For calculation purposes, use 5 decimal places as displayed in the factor table provided, es 1.25124 and final answers to O decimal places, eg. 16%) Internal rate of return %

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