Larkspur Company is considering two capital investment proposals. Estimates regarding each project are provided below! Initial investment Annual net income Net annual cash inflow Estimated useful life Salvage value Project Soup $340000 30000 102000 5 years Project Nuts $540000 46000 131000 6 years 0 The company requires a 10% rate of return on all new investments. Present Value of an Annuity of Periods 9% 10% 11% 12% 3.89 3.791 3.696 3.605 4.486 4.355 4.231 4.111 6 The internal rate of return for Project Nuts is approximately 9% 12% ooo 11% 10%