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Homework answers / question archive /  Griffith Corporation Griffith Corporation is considering an investment in a labor-saving machine

 Griffith Corporation Griffith Corporation is considering an investment in a labor-saving machine

Accounting

 Griffith Corporation

Griffith Corporation is considering an investment in a labor-saving machine. Information on this machine follows:

Cost

$30,000

Salvage value in five years

$0

Estimated life

5  years

Annual depreciation

$6,000

Annual reduction in existing costs

$8,000

 Refer to Griffith Corporation. What is the internal rate of return on this project (round to the nearest 1/2%)? Present value tables or a financial calculator are required.

  1. 37.5 %
  2. 25.0 %
  3. 10.5 %
  4. 13.5 %

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