Ruestion 9 Duke Company is considering two capital investment proposals. Estimates regarding each project are provided below Project Soup $400,000 30,000 110,000 5 years Project Nuts $600,000 Initial investment Annual net income 46,000 Net annual cash inflow Estimated useful life Salvage value- 146,000 6 years 0- -0- The company requires a 10% rate of return on all new investments. Present Value of an Annuity of 1 Periods 9% 10% 11% 12% 3.605 5 3.890 3.791 3.696 4.231 4.111 6 4.486 4.355 The internal rate of return for Project Nuts is approximately 1196 129% 10% 9% LO CO OOOO