Calculate the internal rate of return on the weaving machine


Problem

Blue Spruce Hammocks is considering the purchase of a new weaving machine to prepare fabric for its hammocks. The machine under consideration costs $73,600 and will save the company $10,000 in direct labor costs. It is expected to last 10 years.

Calculate the internal rate of return on the weaving machine.

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Managerial Accounting: Calculate the internal rate of return on the weaving machine
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