Present Value of an Annuity of 1 Periods 8% 9% 10% 1 0.926 0.917 0.909 2 1.783 1.759 1.736 3 2.577 2.531 2.487 A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $96178 and is expected to generate cash inflows of $38000 each year for three years. The approximate internal rate of return on this project is 8%. O less than the required 8%. O 9%. O 10%.