The internal rate of return methed is used by koyston Construction Co. in analyzing a capital expenditure propossi that involves an investment of $51,520 and annual net cash flows of $7,000 for each of the 10 years of its useful life. a. Determine a present value factor for an annuity of 31 , which can be used in determ ining the internal rote of recurn. If required, round vour answer to three decimal viaces, b. Usine the factor determined in part (a) and the gresant vait of an aneuly of $1 table above, determine the internal rate of return for the proposar. Internal rate of retum method for a service company Vail Resorts, Inc (MTN), announced a $418,648 million expansion of iodging properties, skd lifts, and terrain in Park City, Utah, Assume that thes investment is estimated to produce 586,000 milli on in equal anfual cash flows for each of the first 7 years of the project life. a. Determine the expected intemal rate of return ot this.project for 7 years, using the present value of an annety of $1 tabie above. b. Identity the uncertainties that ceuld reduce the intemal fate of return of this project