80% 14. Billabong Tech uses the internal rate of retum (IRR) to select projects. Calculate the IRR for each of the following projects and recommend the best project based on this measure. Project T-Shirt requires an initial investment of $11,500 and generates cash inflows of $5,500 per year for 3 years. Project Board Shorts requires an initial investment of $23,167 and produces cash inflows of 514,000 per year for 4 years. The IRR of project T-Shirt is %. (Round to two decimal places.) The IRR of project Board Shorts is %. (Round to two decimal places.) Based on the internal rate of retum, which project should the firm choose? (Select the best answer below.) O Project T-Shirt O Project Board Shorts 15. Internal rate of return For the project shown in the following table, calculate the internal rate of return (IRR). Then indicate, for the project, the maximum cost of capital that the firm could have and still find the IRR acceptable. The project's IRR IS %. (Round to two decimal places) The maximum cost of capital that the firm could have and still find the IRR acceptable is %. (Round to two decimal places) 3: Data Table (Click on the icon located on the top-night comer of the data table below in order to copy its contents into a spreadsheet.) Initial investment (CF) $120,000 Year (0) Cash inflows (CF) $45,000 2 $45.000 3 $45.000 4 $10.000 $15.000 1 5