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Concord Inc is considering purchasing equipment costing $36000 with a 6 year useful life. The...

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Accounting

Concord Inc is considering purchasing equipment costing $36000 with a 6 year useful life. The equipment will provide cost saving of $9,500 and will be depreciation straight line over its useful life with no salvage value. Concord Inc. Requires a 12% rate of return. What is the approximate internal rate of return for the investment?

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