4.4 Calculate the Internal Rate of Return for Project B. INFORMATION (4) The following information relates to two capital investment projects currently being considered by Enviro Limited, a recycling company. Initial cost Project A R720 000 Project B AR 600 000 Expected useful life 5 years Scrap value R50 000 4 years Nil Depreciation R134 000 p.a. R150 000 p.a. Expected net cash inflows R R 1st year 160 000 165 000 2nd year 3rd, year 175 000 165 000 210 000 165 000 4th year 215 000 165 000 5th year 180 000 165 000 The company's cost of capital is 12%