The valentine company has decided to buy a machine costing

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The Valentine Company has decided to buy a machine costing $31,434. Estimated cash savings from using the new machine amount to $6,500 per year. The machine will have no salvage value at the end of its useful life of eleven years. (Ignore income taxes.)

Click here to view Exhibit 13B-2 to determine the appropriate discount factor(s) using tables.

If Valentine's required rate of return is 10%, the machine's internal rate of return is closest to:

Reference no: EM13572437

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