Calculate the external rate of return for this investment

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The investment of $476608 in a surface mount placement (SMP) machine is expected to reduce manufacturing costs by $92,500 per year. At the end of the 10-year planning horizon, it is expected the SMP machine will be worth $50,000. Using a 10% MARR, calculate the external rate of return for this investment. (HINT: give the answer in percentage form without the % symbol).

Reference no: EM131553268

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