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 four-year useful life, will cost $14,226.29, and will generate expected cash inflows of $4,200 per year. The second investment is expected to have a useful life of four years, will cost $10,912.91, and will generate expected cash inflows of $3,900 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. Internal Rate of Return % First investment Second investment % b. Based on the internal rates of return, which opportunity should H&W select? First investment O Second investment