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

Project		Investment		Annual Income		Life of Project
22A		$243,300		$16,860		6 years
23A		274,200		20,730		9 years
24A		280,500		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. Marigold 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. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)

Project		Internal Rate of Return
22A		%
23A		%
24A		%

(b) If Marigold Companys required rate of return is 11%, which projects are acceptable?

The following project(s) are acceptable

24A22A, 23A and 24A23A and 24A22A and 23A22A23A22A and 24A