1 Velma and Keota (V&K) is a partnership that owns a small company. It is considering two alternative investment opportunities. The first investment opportunity will have a three-year useful life, will cost $6,823.22, and will generate expected cash inflows of $2,600 per year. The second investment is expected to have a useful life of four years, will cost $11,363.48, and will generate expected cash inflows of $3,900 per year. Assume that V&K has the funds available to accept only one of the opportunities. (PV of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.) 2.5 points 8 Required 03:46:43 a. Calculate the internal rate of return of each investment opportunity. (Do not round intermediate calculations.) b. Based on the internal rates of return, which opportunity should V&K select? eBook Hint Internal Rate of Return Print References a. First investment Second investment b. V&K should select the % %