Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Project Investment Annual Income Life of Project 22A $244,100 $17,140 6 years 23A 273,500 20,740 9 years 24A 280,600 15,700 7 years Annual income is constant over the life of the project. Each project is expected to have zero salvage value at the end of the project. Iggy Company uses the straight-line method of depreciation. Click here to view the factor table. (a) Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

Question 3 of 5 0/5 Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Annual Income Project 22A Investment $244,100 273,500 280,600 Life of Project 6 years 9 years 7 years $17,140 20,740 15,700 23A 24A Annual income is constant over the life of the project. Each project is expected to have zero salvage value at the end of the project. Iggy Company uses the straight-line method of depreciation. Click here to view the factor table. (a) Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Internal Rate of Return 22A 11.07 % 23A 11.90 % 24A 9.02 % (a) Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project Internal Rate of Return 22A 11.07 % 23A 11.90 % 24A 9.02 % (b) If Iggy Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptable 23A e Textbook and Media Save for Later Attempts: 1 of 5 used Submit