Given the following data (Ignore income taxes.): Cost of equipment$48,680 Annual cash inflows $10,000 Internal rate of return 10%See separate Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using the tables provided.The life of the equipment must be:
A. 5 years
B. 6 years
C. 7 years
D. It is impossible to determine from the data given
Answer: C
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