Rydell Engineering is looking to invest in Project A or Project B. The data surrounding each project is provided below. Rydell's cost of capital is 8%.

PROJECT A

This project requires an initial investment of $170,000. The project will have a life of 8 years. Annual revenues associated with the project will be $130,000andexpenses associated with the project will be $35,000.

PROJECT B

This project requires an initial investment of $140,000. The project will have a life of 7 years. Annual revenues associated with the project will be $113,000andexpenses associated with the project will be $60,000.

I've got this section. It's the next part I need help with.

The Rydell purchasing department has made revisions to their costs and annual cash flows for Project A and Project B, as outlined below.

Project A's revised investment is $260,400. The project's life and cash flow have changed to 7 years and $53,500, respectively, while expenses have been eliminated.

Project B's revised investment is $119,800. The project's life and cash flow have changed to 6 years and $82,500 while expenses reduced slightly to $55,000.

Compute the internal rate of return factor for Project A and Project B and then identify each project's corresponding percentage from the PV ordinary annuity table.

Note: Enter the IRR factor, to 5 decimal places.

Please show me the steps. I tried following the book and got nonsense. :)

Thank you.