Improved tooling for numerical control machinery will cost, Business Economics

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Improved tooling for numerical control machinery will cost

Improved tooling for numerical control machinery will cost $9,693, last 6 years, and have no salvage value at that time. Due to this investment, net income will increase by $2525 during the first 3 years and by $3840 during each of the remaining 3 years. Using 20% MARR, what is the project's external rate of return (ERR)?

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