SheffieldCompany is considering two capital investment proposals. Estimates regarding each project are provided below: Project Soup Project Nuts Initial investment $500000 $700000 Annual net income 46000 46000 Net annual cash inflow 150000 170000 Estimated useful life 5 years 6 years Salvage value 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% 5 3.89 3.791 3.696 3.605 6 4.486 4.355 4.231 4.111 The internal rate of return for Project Nuts is approximately 9%. 10%. 11%. 12%.