Cousin's Salted Snack Company is considering two possible investments: a delivery truck or a bagging machine. The delivery truck would cost $47,424.00 and could be used to deliver an additional 56,000 bags of pretzels per year. Each bag of pretzels can be sold for a contribution margin of $038_ The delivery truck operating expenses, excluding depreciation, are $0.52 per mile for 19,000 miles per year The bagging machine would replace an old bagging machine, and its net investment cost would be The new machine would require three fewer hours of direct labor per day. Direct labor is $15 per hour. There are 250 operating days in the year. 80th the truck and the bagging machine are estimated to have seven-year lives. The minimum rate of return is However, Cousin's has funds to invest in only one of the projects. Present Value of an Annuity of SI at Compound Interest Year 0.943 1_833 2_673 3_465 4_212 4.917 5_582 6_210 6_802 7_360 0.909 1_736 3_170 3_791 4_355 4_868 5_335 5_759 6_145 0_893 1_690 2_402 3_037 3_605 4_111 4_564 4.968 5_328 5_650 0_870 1_626 2_283 2_855 3_352 3_784 4_160 4_487 4_772 5_019 0_833 1_528 2_106 2_589 2.991 3_326 3_605 3_837 4_031 4_192 a. Compute the internal rate of return for each investment. use the above table of present value of an annuity of $1. If required, round Vour present value factor answers to three decimal places and internal rate of return to the nearest percent. Delivery Truck Present value factor Internal rate of return Bagging Machine