A machine has an investment cost of $60,000 at time 0. The present values (at time 0) of the expected net cash inflows from the machine over its useful life are:
Discount rate???????????? Present value of cash inflows
10%?????????????????????????????????????? ?$64,600
15%????????????????????????????????????????$58,200
20%???????????????????????????????????? ? $52,100
What is the internal rate of return (IRR) of the machine investment?