King S Department Store Is Contemplating The Purchase Of A New Machine At A Cost

King’s department store is contemplating the purchase of a new machine at a cost of $22,802. the machine will provide $3,500 per year in cash flow for nine years. king’s has a cost of capital of 10 percent. use appendix d for an approximate answer but calculate your final answer using the financial calculator method.

a. what is the internal rate of return?

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