Consider the following projects being considered by McKnight Products: () (Click the icon to view the projects.) (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) Compute the IRR of each project, and use this information to identify the better investment. The IRR for each project is: Project A: Project B: Project A: Costs $270,000 and offers seven annual net cash inflows of $52,000. McKnight Products requires an annual return of 12% on investments of this nature. Project B: Costs $385,000 and offers 9 annual net cash inflows of $75,000. McKnight Products demands an annual return of 10% on investments of this nature. Present Value of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.980 0.971 0.962 0.952 0.943 0.935 0.926 0.917|0.909 0.893 0.877 0.870 0.862 0.8470.833 Period 2 0.980 0.961 0.943 0.925 0.9070.890 0.873 0.857 0.8420.826 0.797 0.769 0.756 0.743 0.7180.694 Period 3 0.971 0.942 0.915 0.889 0.864 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.641 0.609 0.579 Period 4 0.961 0.924 0.888 0.855 0.823 0.792 0.763 0.735 0.708 0.683 0.636 0.592 0.572 0.552 0.516 0.482 Period 5 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.650 0.621 0.567 0.519 0.497 0.476 0.4370.402 Period 6 0.942 0.888 0.837 0.790 0.746 0.705 0.6660.630 0.596 0.564 0.507 0.456 0.432 0.410 0.370 0.335 Period 7 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.3140.279 Period 8 0.923 0.853 0.789 0.731 0.677 0.627 0.5820.540 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 Period 9 0.914 0.837 0.766 0.703 0.645 0.592 0.5440.500 0.460 0.424 0.361 0.308 0.284 0.263 0.225 0.194 Period 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 10 Period 110.896 0.804 0.722 0.650 0.585 0.527 0.475 0.429 0.3880.350 0.287 0.237 0.215 0.195 0.162 0.135 Period 10.887 0.788 0.701 0.625 0.557 0.497 0.444 0.397 0.356 0.319 0.257 0.208 0.187 0.168 0.1370.112 12 Period 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.3260.290 0.229 0.182 0.163 0.145 0.116 0.093 Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% Period 1 0.990 0.9800.971 0.962 0.952 0.943 0.935 0.9260.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 Period 2 1.970 1.942 1.9131.886 1.859 1.833 1.808 1.783 1.759 1.736 1.6901.647 1.626 1.6051.566 1.528 Period 3 2.9412.884 2.829 2.775 2.723 2.673 2.624 2.5772.531 2.487 2.402 2.322 2.283 2.246 2.174 2.106 Period 4 3.9023.808 3.7173.630 3.546 3.465 3.387 3.312 3.240 3.1703.037 2.914 2.855 2.798 2.690 2.589 Period 5 4.853 4.7134.580 4.452 4.329 4.212 4.100 3.9933.8903.791 3.605 3.433 3.352 3.274 3.1272.991 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.767 4.623 4.4864.355 4.111 3.889 3.784 3.6853.498 3.326 Period 7 6.7286.472 6.230 6.0025.786 5.582 5.389 5.206 5.033| 4.868 4.564 4.288 4.160 4.0393.8123.605 Period 87.652 7.325 7.020 6.7336.463 6.210 5.971 5.7475.5355.335 4.968 4.639 4.487 4.344 4.078 3.837 Period 98.566 8.162 7.786 7.4357.108 6.802 6.515 6.2475.9955.759 5.328 4.946 4.7724.607 4.303 4.031 Period 10 9.471 8.983 8.530 8.111 7.722 7.360 7.024 6.710 6.418 6.145 5.6505.216 5.019 4.833 4.494 4.192 Period 11 10.368 9.7879.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 | 4.656 4.327 Period 12 11.255 10.575 9.954 9.3858.863 8.3847.943 7.536|7.1616.814 6.194 5.660 5.421 5.1974.793 4.439 Period 1312.13411.348 10.635 9.986 9.394 8.853 8.358 7.904 7.487 7.103 6.424 5.842 5.583 5.342 4.910 4.533 Period 1413.00412.106 11.296 10.563 9.899 9.295 8.745 8.2447.7867.3676.628 6.002 5.724 5.468 5.008 4.611 Period 1513.86512.849 11.938 11.11810.380 9.712 9.108 8.5598.0617.606 6.811 6.142 5.847 5.575 5.092 4.675