Hosier and Wogan (H&W) is a partnership that owns a small company. It is considering two alternative investment opportunities. The first investment opportunity will have a three-year useful life, will cost $6,834.50, and will generate expected cash inflows of $2.700 per year. The second investment is expected to have a useful life of four years, will cost $14,573.36, and will generate expected cash inflows of $4,400 per year. Assume that H&W has the funds available to accept only one of the opportunities. Required a. Calculate the internal rate of return of each investment opportunity. 1:12:10 sok rences Internal Rate of Return % First investment Second investment % b. Based on the internal rates of return, which opportunity should H&W select? Second Investment O First Investment