Question 6 of 6 1/4 View Policies Show Attempt History Current Attempt in Progress Pharoah Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Project 22A 23A 24A Investment $244,600 272,100 280.600 Annual Income $16,950 20,600 15.700 Life of Project 6 years 9 years 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 Pharoah Company uses the straight-line method of depreciation. Click here to view PV table (a) Determine the internal rate of return foreach project. (Round answers O decimal places, eg. 13%. For calculation purposes, use nlaces as disalavadinithe factori robe novided EN Question 6 of 6 114 Determine the internal rate of return for each project. (Round answers Odecimal places, eg 13% For calculation purposes, use 5 du places as displayed in the factor table provided.) Project Internal Rate of Return 22A % 23A % 24A % (b) If Pharoah Company's required rate of return is 11%, which projects are acceptable? The following projects are acceptable e Textbook and Media