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QUESTION

Toyota is considering the purchase of a new robotics machine for assembling the car's engine.

Toyota is considering the purchase of a new robotics machine for assembling the car’s engine. This investment requires an initial outlay of 240,00 (at year 0) and will generate net cash savings of $31,000 per year for 15 years. The machine also requires some maintenance at the end of year 10, which costs 60,000. At the end of the year, the machine can be sold for a salvage value of $25,000. The annual discount rate is 15%. What is the MIRR? PLEASE SHOW ALL WORK

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