(Ignore income taxes in this problem.) Crockin Corporation is considering a machine that will save $9,000 a year in cash operating costs each year for the next six years.At the end of six years it would have no salvage value.If this machine costs $33,165 now, the machine's internal rate of return is closest to:

A) 16%
B) 17%
C) 18%
D) 19%

Cash Operating Costs

Expenses related to the day-to-day operational activities of a business, paid in cash.

Salvage Value

The estimated residual value of an asset after it has reached the end of its useful life.

Internal Rate

Often refers to the internal rate of return (IRR), which is the discount rate that makes the net present value (NPV) of all cash flows from a particular project zero.