The Best Value Motel Company is analyzing the addition of another motel to its chain. The key parameters of three motels under scrutiny are provided below. Parameters Apex $500,000 Tops 550,000 Perfect 585,000 1. Initial Cost ($) $360,000 at $350,000 at EOY1 decreasing by 1% EOY1 increasing $400,000 2. Revenues ($) annually annually thereafter by 2% annually thereafter $275,000 at 1 increasing by $4,000 annually thereafter $232,000 at EOY1 $210,000 at EOY1 increasing by $5,000 annually thereafter. 3. Operating Costs ($) decreasing by 1.5% annually thereafter 4. End-of-life salvage value $120,000 95,000 -30,000 ($) 5. Useful life 5 years 10 years 5 years (years) All parameter values are fictitious. EOY = End-of-year Industry Standard = 4 years MARR = 10% 21. Perfect's Internal Rate of Return (IRR). 22. The incremental Internal Rate of Return (AIRR) between the Apex and Perfect motels. 23. Top's External Rate of Return (ERR). 24. Perfect's External Rate of Return (ERR).