Exercise 24-7 Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Annual Life of Project Investment Income Project $243,500 $17,320 6 years 271,40020,600 9 years 283,000 15,700 7 years 22A 23A 24A Annual income is constant over the life of the project. Each project is expected to have zero salvage value at the end of the project. Iggy Company uses the straight-line method of depreciation Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 10. For calculation purposes, use 5 decimal paces as displayed in the factor table provided) Project 22A 23A 24A Internal Rate of Return If Iggy Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptable