The internal rate of return method is used by Queen Bros. Construction Co. in analyzing a capital expenditure proposal that involves an investment of $55,440 and annual net cash flows of $16,000 for each of the four years of its useful life. Present Value of an Annuity of \$1 at Compound Interest a. Determine a present value factor for an annuity of $1 which can be used in determining the internal/rate of return. If required, round vour answer to three decimal places. b. Using the foctor determined in part (a) and the prestent value of an annuity of $1 table above, determine the internal rate of return for the proposal