Present value of an Annuity of $1 in Arrears 
- Ruby Company is considering a project with an initial investment of $300,000 that will yield annual net cash flows of $90,580 and will be depreciated at $75,000 per year over its 4 year life.What is the internal rate of return? (Note: Round the discount factor to three decimal places.)
Definitions:
Contra Equity
An equity account that decreases the total equity of a company, often related to withdrawals or deductions from the total equity.
Common Stock Outstanding
The shares of a corporation's stock that are issued and held by investors, excluding treasury shares.
Common Stock Issued
Shares of a company that have been allocated to shareholders, representing ownership interest in the corporation.
Cumulative
Refers to an overall amount that includes all accumulated adjustments, additions, charges, and other relevant items over a period.
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