Maya Industries is considering a new product that will sell for P100 and has a variable cost of P60. Expected volume is 20,000 units. New equipment costing P1,500,000 and having a five-year useful...

Maya Industries is considering a new product that will sell for P100 and has a variable cost of P60. Expected volume is 20,000 units. New equipment costing P1,500,000 and having a five-year useful life and no salvage value is needed, and will be depreciated using the straight-line method. The machine has fixed cash operating costs of P200,000 per year. The firm is in the 40% tax bracket and has cost of capital of 12%. Use 5 decimal places for the PV factors. How many units per year the firm must sell for the investment to earn 12% internal rate of return?