Exercise 16-10A (Algo) Using the internal rate of return to compare investment opportu Velma and Keota (V&K) is a partnership that is considering two alternative investment opportunities. The first investment opportunity will have a five-year useful life, will cost $17,362.11, and will generate expected cash inflows of $3,900 per year. The second investment is expected to have a useful life of three years, will cost $7,205.49, and will generate expected cash inflows of $3,000 per year. Assume that V&K has the funds available to accept only one of the opportunities. (PV of $1 and PVA of $1) Note: Use appropriate factor(s) from the tables provided. Required a. Calculate the internal rate of return of each investment opportunity. Note: Do not round intermediate calculations. b. Based on the internal rates of return, which opportunity should V&K select? Internal Rate of Return First investment a. Second investment b. V&K should select the %