GTO Incorporated is considering an investment costing $$224,970$ that results in net cash flows of $$30,000$ annually for $11$ years. $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

$($a$)$ What is the internal rate of return of this investment?

$($b$)$ The hurdle rate is $9\mathrm{.}5\%.$ Should the company invest in this project on the basis of internal rate of return?

a$.$ Internal rate of return

b$.$ Should the company invest in this project on the basis of internal rate of return?