Capital Budgeting Drill #5 A certain company is considering purchasing a repair machine. The cost of the machine is $650,796. For its investment, the company expects to receive $125,000, in cash, each year for the next 7 years. What is the approximate internal rate of return for this machine?

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.