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Pharoah Company is evaluating the purchase of a rebuit spot-welding machine to be used in...

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Accounting

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Pharoah Company is evaluating the purchase of a rebuit spot-welding machine to be used in the manufacture of a new product. The machine will cost $165,000, has an estimated useful life of 7 years and a salvage value of zero, and will increase net annual cash flows by $31,695. Click here to view the factor table. What is its approximate internal rate of return? (Round answer to 0 decimal place, eg. 13\%) Internal rate of return TABLE 4 Present Value of an Annuity of 1 (n) TABLE 3 Present Value of 1 TABLE 4 Present Value of an Annuity of 1 TABLE 2 Future Value of an Annuity of 1 TABLE 1 Future Value of 1

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