Use the following information for the Quick Study below.

[The following information applies to the questions displayed below.] A company is considering investing in a new machine that requires a cash payment of $41,597 today. The machine will generate annual cash flows of $17,319 for the next three years.

QS 11-13 Internal rate of return LO P4

What is the internal rate of return if the company buys this machine? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)