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.
?
Round your answer to the nearest hundredth, if necessary.
?
__________ % per yr
Fill in the blank(s) with the appropriate word(s).
14.82
Mathematics
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B.
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= 1
A.
B.
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