(Answered) Kyle duminy ownerof the cottoncloth enterprise was

Finance

Kyle duminy ownerof the cottoncloth enterprise was approached by a local dealer in air-conditioning unit. The dealer proposed replacing the old cooling system of the company with a modern more efficient system. The cost of the new system was quoted at R140 000, but it would save R30 000 per year in energy costs. The estimated life of the new system is 10 years, with no salvage value expected. All capital projects are required to earn at least the firms cost of capital, which is 10%. Calculate the project's internal rate of return

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