Salarian Company is considering two capital expenditures. Relevant data for the projects are as follows:

Project		A			B
Initial investment		$202,575			$251,438
Annual income		$43,820			$43,660
Life of project		6 years			9 years
Salvage value		$0			$0

Salarian Company uses the straight-line method to depreciate its assets.

(a)

Calculate the internal rate of return for each project. (For calculation purposes, use 4 decimal places as displayed in the factor table provided, e.g. 1.2512. Round answers to 0 decimal places, e.g. 15%.) Click here to view PV table.

		Internal rate of return
Project A			%
Project B			%