Joetz Corporation has gathered the following data on a proposed Investment project (Ignore Income taxes. Investment required in equipment $ 31,500 Annual cash inflows $ 6,600 Salvage value of equipment $ @ Life of the investment 15 years Required rate of return 10% The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment. Click here to view Exhibit 14B-1 and Exhibit 14B-2 to determine the appropriate discount factor(s) using the tables provided. The Internal rate of return of the investment is closest to: Multiple Choice 225 189 U 20% 24%