The Proprietor of Qwik Film Lab Recently Purchased $12,400 of New

question 55

Short Answer

The proprietor of Qwik Film Lab recently purchased $12,400 of new film-processing equipment. She expects that this investment, which has a useful life of 4 yr, will yield returns of $4,400 at the end of the first year, $5,200 at the end of the second year, $4,300 at the end of the third year, and $3,100 at the end of the fourth year. Find the internal rate of return on the investment.
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Round your answer to the nearest hundredth, if necessary.
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__________ % per yr

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Definitions:

Remedy

A means of legal reparation, correction, or enforcement obtained through judicial process to address a wrong or enforce a right.

Wrongdoer

An individual or entity that has acted improperly, unlawfully, or maliciously.

Universal Law

A rule or body of rules that applies universally and is considered binding on all members of a group or category.

Legal Positivism

A theory in philosophy of law which holds that laws are rules established by human authorities and there's no inherent or necessary connection between law and morality.