A company called ABC is looking to invest money in agriculture and to do that they have two options. Either buy a land at a cost of 1M and grains at a cost of 20K a year starting now for 10 years. This option would also entail hiring 50 farmers to work 8 hours a day for 6 days a week. The hourly salary of a farmer is $10. The annual production of this option is 1000 tons per year and a ton sells for 500 dollars. The lifetime of this option is 20 years The second option is to rent a land at a cost of 60k per year for 20 years. The land will have the same salaries to be paid, however, grains cost 25k. The land in this case produces 950 tons per year and the ton sells for 520 dollars. The lifetime of this option is also 20 years a- Find the IRR of the first option b- Find the IRR of the second option C- Conduct Incremental IRR analysis with a company MARR of 1.5% A company called ABC is looking to invest money in agriculture and to do that they have two options. Either buy a land at a cost of 1M and grains at a cost of 20K a year starting now for 10 years. This option would also entail hiring 50 farmers to work 8 hours a day for 6 days a week. The hourly salary of a farmer is $10. The annual production of this option is 1000 tons per year and a ton sells for 500 dollars. The lifetime of this option is 20 years The second option is to rent a land at a cost of 60k per year for 20 years. The land will have the same salaries to be paid, however, grains cost 25k. The land in this case produces 950 tons per year and the ton sells for 520 dollars. The lifetime of this option is also 20 years a- Find the IRR of the first option b- Find the IRR of the second option C- Conduct Incremental IRR analysis with a company MARR of 1.5%