Problem
A small research firm purchases new equipment valued at $80,000. The equipment is expected to produce a net income of $15,000 for each year of its 6-year useful life. Using MACRS, determine the IRR for the project if the company is taxed at the 25% marginal rate. Do not use Section 179.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.