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Answer fully thanks Exercise 10-98 Determining the internal rate...

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Exercise 10-98 Determining the internal rate of return Ronnie Gentry, CFO of Odessa Enterprises, is evaluating an opportunity to invest in additional manu- facturing equipment that will enable the company to increase its net cash inflows by $250,000 per year. The equipment costs $858,270.25. It is expected to have a five-year useful life and a zero salvage value. Odessa's cost of capital is 10 percent. Required a. Calculate the internal rate of return of the investment opportunity b. Indicate whether Odessa should purchase the equipment

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