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Management of Gary King, a confectioner, is considering purchasing a new jelly bean-making machine at...

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Finance

Management of Gary King, a confectioner, is considering purchasing a new jelly bean-making machine at a cost of $340,022. They project that the cash flows from this investment will be $126,710 for the next seven years. If the appropriate discount rate is 14 percent, what is the IRR that Gary King management can expect on this project? (Do not round discount factors. Round other intermediate calculations to 0 decimal places e.g. 15 and final answer to 2 decimal places, e.g. 5.25%.)

IRR is enter the IRR in percentages rounded to 2 decimal places %

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