Concord, Inc. is considering purchasing equipment costing $23000 with a 6 -year useful life. The...
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Concord, Inc. is considering purchasing equipment costing $23000 with a 6 -year useful life. The equipment will provide cost savings of $5500 and will be depreciated straight-line over its useful life with no salvage value. Concord Inc. requires a 7% rate of return. What is che approximate internal rate of return for this investment? 6% 9% 8% 7%
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