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Orion Company is considering buying a new machine and has gathered the following information about...

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Accounting

Orion Company is considering buying a new machine and has gathered the following information about the purchase: Initial investment ................ $81,309 Annual cost savings ............... ? Life of machine ................... 12 years Salvage value ..................... $0 Cost of capital ................... 3% Net present value ................. $68,001 Ignore income tax effects in your calculations. The internal rate of return (IRR) of the new machine is closest to:

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