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

$\backslash$table$[[$Project$,$Investment,$\backslash$table$[[$Annual$],[$Income$]],\backslash$table$[[$Life of$],[$Project$]]],[22A,$$$242,800,$$$16,840,6$ years$],[23A,275,000,20,680,9$ years$],[24A,282,000,15,700,7$ 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.

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$($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

$22A$

$23A$

Internal Rate of

Return

Return

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.$)$

$\backslash$table$[[$Project$,\backslash$table$[[$Internal Rate of$],[$Return$]]],[22A,\%$