Splish Brothers Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project Nuts Project Sour $640000 Initial investment $840000 60000 46000 Annual net income Net annual cash Inflow Estimated useful life 192000 204000 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 996 10% 11% 12% TTC Umpany rtyuned 170 rate UITEIT UIT DIEW Vestlers. 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 O 9% O 11% O 12% 10%