ENGG433/956-Spring-2019-Week-13 Submission Question 13.23 13.23 IRR LOS Ferris Industries has $50 000 available to invest in new equipment. Management is considering four different equipment investments, each of which requires $50 000. The expected after-tax cash flow for each project has been estimated as follows: Year 1 2. $12,000 5,000 (16,000) 3 4 6 Project 1 Project 2 Project 3 Project 4 $10,000 40,000 18,000 $14,000 (3,000) 50,000 $16,000 $16,000 5,000 $16,000 1,000 40,000 50,000 3,000 3,000 30,000 0 30,000 30,000 30,000 Required (a) Rank the projects in terms of desirability using the internal rate of return for each project as the criterion. Use Excel or a similar spreadsheet to calculate the IRRS. (b) What other factors should be considered in making the decision of which investment to choose