GTO Incorporated is considering an investment costing $$350,370$ that results in net cash flows of $$45,000$ annually for $14$ 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 $11\mathrm{.}0\%.$ Should the company invest in this project on the basis of internal rate of return?

a$.$

b$.$