Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as follows. 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 PV table. (a) Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 10. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) (b) If Iggy Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptable Present value of a series of future amounts computation value of 1 to be received periodically for a given number of payments. It assumes that each payment is made at the end of each period. TABLE 4 Present Value of an Annuity of 1 When using Table 3 , the future value is multiplied by the present value factor specified at the intersection of the number of periods and the discount rate. the $826.45($1,000.82645) computed previously. The following two demonstration problems (Illustrations G-12 and G-13) illustrate how to use Table 3