Sheridan Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Project Investment Annual Income Life of Project 22A $242,200 $16,890 6 years 23A 271,500 20,710 9 years 24A 283,000 15,700 7 years Annual net income is constant over the life of the project. Each project is expected to have zero salvage value at the end of the project. Sheridan Company uses the straight-line method of depreciation. Click here to view PV table. (a) Determine the internal rate of return for each project. (Round answers O decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Internal Rate of Return Project 22A 23A 24A % % % (b) If Sheridan Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptable