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Business, 18.01.2021 14:00 DaylaReevaFEEVA5040

The Oklahoma Department of Transportation (ODOT) is looking at the purchase of a new technology for asphalt paving of major highways. The new machine will cost $1,000,000 and is expected to provide a net revenue of $150,000 per year for 9 years. There is no salvage value for this machine. If MARR=10% per year, what is the exact IRR for this project? A. 15.15%
B. 13.68%
C. 6.47%
D. 2.14%

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