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Kanye Company is evaluating the purchase of a rebuilt spot-welding machine to be used in...

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Accounting

Kanye 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 $171,000, has an estimated useful life of 7 years, a salvage value of zero, and will increase net annual cash flows by $35,124. What is its approximate internal rate of return?

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