After receiving money from your summer internship, you decide to invest the money. Alternatively, you can save the money and which you assume will earn $12\%$ per year. You have two mutually exclusive opportunities to invest in$.$ These are described below.

Alternative A requires an up$-$front investment of $$900.$ It will produce annual returns of $$180$ at the end of each year for $10$ years. Salvage value is $$331.$

Alternative B requires an up$-$front investment of $$1,300.$ It will produce annual returns of $$274$ at the end of each year for $10$ years. Salvage value is $$190.$

In what order should you compare the alternatives?

Conduct an IRR analysis to determine which investment, if either, should you invest in$.$

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Carry all interim calculations to $5$ decimal places and then round your final answers to $1$ decimal place. The tolerance is $+-0\mathrm{.}3.$

Following the order that was selected above, compare the first two alternatives. Calculate the IRR