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What is its approximate internal rate of return

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Question - Sheridan Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The machine will cost $166,000, has an estimated useful life of 7 years and a salvage value of zero, and will increase net annual cash flows by $32,985. What is its approximate internal rate of return?

Reference no: EM133183748

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