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Sandhill Corporation is considering two alternative investments in excavating equipment. Investment A requires an initial investment of $ 1 8 1 , 6 0 0

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Sandhill Corporation is considering two alternative investments in excavating equipment. Investment A requires an initial investment of $181,600, has positive cash flows of $28,000 per year, and has an estimated salvage value of $20,600. Investment B requires an initial investment of $232,200, has positive cash flows of $32,800 per year, and has an estimated salvage value of $19,400. Each piece of equipment is expected to have a 12-year useful life. Use a financial calculator to determine the internal rate of return of each project to decide which is more desirable. (Round answers to 2 decimal places, e.g.9.74%.)
\table[[,,Investment A,,Investment B],[,,%,%,]]
is more desirable.
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