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

Question

Fill in the blank(s) with the appropriate word(s).

Answer 1

14.82