Strahn Foods Inc. is considering two possible investments: a delivery truck or a bagging machine. The delivery truck would cost 541,097.00 and couid be used to delive an additional 56,000 bags of taquitos chips per year. Each bag of chips can be sold for a contribution margin of $0.38. The delivery truck operating expenses, excluding depreclation, are $0.52 per mile for 19,000 miles per year. The bagging machine would replace an old bagging machine, and its net investment cost would be $37,721,2 The new machine would require three fewer hours of direct labor per day. Direct labor is $15 per hour. There are 250 operating days in the year, Both the truck and the bagging machine are estimated to have five-year lives. The minimum rate of return is 14%. However, Strahn Foods has funds to invest in only one of the projects. a. Compute the internal rate of retum for each investment. Use the above table of present yalue of an annoity of st. Enter the present value factor to three decimal places. depreciation, are $0.52 per mile for 19,000 miles per year. The bagging machlne would replace an old bagging machine, and its net investment cost would be $37,721.2 The new machine would require three fewer hours of direct labor per day. Direct labor is $15 per hour. There are 250 operating doys in the year. Both the truck and the bagging machine are estimated to have five-year lives. The minimum rate of return is 14%. However, Strahn Foods has funds to invest in only one of the projects. Present Value of an Annuitv of s1 at Comnaund Thteraet. a. Combute the internal fate of retum for each investment, Use the obove table of present value of an anniaty of s1. Enter the present value factor to three decimal places