204 Internal rate of Return Method The internal rate of return method is used by Testerman Construction Co. in analysing a capital expenditure proposal that involves an investment of $51,629 ad annual net cash flows of 517,000 for each of the four years of its we Present Value of an Annuity of $1 at Compound Interest Year 10% 15% 1 0.943 0.900 0.893 0.570 0.833 2 1.833 1.690 1.626 1.528 3 2.673 2.657 2.402 2.253 2. 106 4 3.465 3.170 3037 2.855 2.589 5 3.791 3.605 4.355 6 2 4.160 0210 4.457 9 6.502 5328 5.650 4.772 5.019 3.837 4,031 4.192 10 7.360 6.145 a. Determine a present value factor for in arounity of $t which can be woed in determining the internal rate of vetur. If required, round your answer to three decimal places. b. Using the factor determined in part() and the present of an annuity of 1 table above, determine the internal rate of return for the proposal