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Tracey Table's is considering an equipment investment that will cost $950,000. Projected net cash inflows over...

Tracey Table's is considering an equipment investment that will cost $950,000. Projected net cash inflows over the​ equipment's three-year life are as​ follows: Year​ 1: $488,000​;Year​ 2: $390,000​; and Year​ 3: $300,000. Tracey wants to know the​ equipment's IRR.

Requirement

Use trial and error to find the IRR within a​ 2% range. ​(Hint​: Use Tracey​'s hurdle rate of 10​% to begin the​ trial-and-error process.) Use a business calculator or spreadsheet to compute the exact IRR. Begin by calculating the NPV at three​ rates: 10​%,12​%,and 14​%.​(Round your answers to the nearest whole dollar. Use parentheses or a minus sign for negative net present​ values.)

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