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Xavier Co. wants to purchase a machine for $37,000 with a four year life and...

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Accounting

Xavier Co. wants to purchase a machine for $37,000 with a four year life and a $1,000 salvage value. Xavier requires an 8% return on investment. The expected year-end net cash flows are $12,000 in each of the four years. What is the machine's internal rate of return?

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