Cheyenne Company is considering two capital investment proposals. Estimates regarding each project are provided below: Initial investment Annual net income Net annual cash inflow Estimated useful life Salvage value Protect Soup $540000 50000 162000 5 years Project Nuts $740000 46000 180000 6 years The company requires a 10% rate of return on all new investments. Present Value of an Annuity of 1 Periods 9% 10% 11% 12% 5 6 3.89 3.791 3.696 3.605 4.486 4.355 4.231 4.111 The internal rate of return for Project Nuts is approximately ? 12%. 0 996. ? 10%. 1196