Joetz Corporation has gathered the following data on a proposed investment project (lgnore income taxes.) $38,500 9,400 Investment required in equipment Annual cash inflows 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 13B-1 and Exhibit 13B-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 21% 25% 23% 27%