Present Value of an Annuity of 1 Periods 896 9% 10% 1 .926 917 .909 2 1.783 1.759 1.736 2. 3 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 $78461 and is expected to generate cash inflows of $31000 each year for three years. Using the factor table above, the approximate internal rate of return on this project is 0896 o less than the required 8%. O 10% O 9%