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The equipment currently being used is 3 years old and could

Question - James Bruce is the CEO of Bruce Industries. James is interested in purchasing new pollution abatement equipment because the current equipment is outdated and not efficient. The controller of the company has identified equipment that costs $104,110 and will provide annual cash operating inflows of $28,290 for 5 years. The equipment currently being used is 3 years old and could be sold for $2,130. What is the equipment's internal rate of return?

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