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MAC Inc. purchased an asset costing $250,000. Annual net operating cash flows (after tax) generated...

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Accounting

MAC Inc. purchased an asset costing $250,000. Annual net operating cash flows (after tax) generated from the asset are expected to be $65,950 each year for five years. No salvage value is expected at the end of the assets life. Using the time value of money tables, which of the following rates is closest to the internal rate of return on the project?

Select one:

a. .7%

b. .8%

c. .9%

d. 10%

e. 11%

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