Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as follows.

Project		Investment		Annual Income		Life of Project
22A		$241,400		$17,590		6 years
23A		271,100		20,620		9 years
24A		282,100		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.

(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 % 23A % 24A % (b) If Iggy Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptable