Following is information on two alternative investments being considered by Tiger Co. The company requires a 8% return from its investments. Compute the internal rate of return for each of the projects using Excel functions. Based on internal rate of return, indicate whether each project is acceptable. (Round your answers to 2 decimal places.) Assume that Google invests $2.42 billion in capital expenditures, including $1.08 billion related to manufacturing capacity. Assume that these projects have a seven-year life and that management requires a 15% internal rate of return on those projects. (PV of \$1. FV of \$1, PVA of \$1, and EVA of \$1) (Use appropriate factor(s) from the tables provided.) Required 1. What is the amount of annual cash flows that Google must earn from those expenditures to achieve a 15% internal rate of return? (Hint Identify the seven-period, 15% factor from the present value of an annuity table and then divide $2.42 billion by the factor to get the annual cash flows required.) 2. Refer to the financial statements in ARRendix A. Identify the amount that Google invested in capital assets for the year ended December 31, 2017. 3. Did Google or Apple invest more in capital assets for 2017 ? Complete this question by entering your answers in the tabs below. What is the amount of annual cash flows that Google must earn from those expenditures to achieve a 15% internal rate of return? (Hint: Identify the seven-period, 15% factor from the present value of an annuity table and then divide $2.42 billion by the factor to get the annual cash flows required.) (Round your answer to the nearest whole dollar.)