Crystal Tech has gathered the following data on a proposed i…
Crystal Tech has gathered the following data on a proposed investment project (Ignore income taxes.): Investment required in equipment $ 32,000 Annual cash inflows $ 6,800 Salvage value of equipment $ 0 Life of the investment 15 years Required rate of return 10% Crystal uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment. Note: You will need the PV tables for this question. The internal rate of return of the investment is closest to: