VERSION BACK NEXT Multiple Choice Question 108 Kingbird, Inc. is considering purchasing equipment costing $70000 with a 6-year useful life. The equipment will provide annual cost savings of $17027 and will be depreciated straight-line over its useful life with no salvage value. Kingbird requires a 10% rate of return. Present Value of an Annuity of 1 9% 10% 11% 12% Period 8% 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? O 10% O 11% O 12% O 9% Click if you would like to Show Work for this question: Open Show Work