Larkspur Inc. is considering purchasing equipment costing $44000 with a 6-year useful life. The equipment...
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Larkspur Inc. is considering purchasing equipment costing $44000 with a 6-year useful life. The equipment will provide annual cost savings of $10703 and will be depreciated straight-line over its useful life with no salvage value Larkspur requires a 10% rate of return Period 6 Present Value of an Annuity of 1 8% 9% 10% 11% 12% 15% 4,623 4486 4,355 4.231 4.111 3.784 What is the approximate internal rate of return for this investment? OOOO 11% 10% 12% 9%
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