Question: A new manufacturing device costs $10,000 to buy but produces annual benefits of $3250 in reduced production costs. The device will operate for 4 years,

A new manufacturing device costs $10,000 to buy but produces annual benefits of $3250 in reduced production costs. The device will operate for 4 years, at which time it will have no resale value. What is the internal rate of return on this investment?

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