Exercise 25-07 (Video) Sheffield Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Project 22A Investment $244,700 273,400 284,800 Annual Life of Income Project $17,110 6 years 20,660 9 years 15,700 7 years 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. Sheffield Company uses the straight-line method of depreciation. Click here to view PV table. (a) Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Internal Rate of Return 22A % 23A % 24A % (b) If Sheffield Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptabli 22A 23A 22A and 24A 24A 22A and 23A 22A, 23A and 24A 23A and 24A uestion Attempts: 0 of 5 used