i have tried to solve this problem and the answer isn't 10 or 11% so...
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i have tried to solve this problem and the answer isn't 10 or 11% so can anyone help me with this pls??? thank youuuu
Exercise 24-20A (Algo) IRR for investment using Excel LO P4 Optilux is considering investing in an automated manufacturing system. The system requires an initial investment of $5.0 million, has a 20 -year life, and will have zero salvage value. If the system is implemented, the company will save $620,000 per year in direct labor costs. The company requires a 10% return from its investments. Using Excel, compute the internal rate of return for the proposed investment. (Round your answer to 2 decimal places.)

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