The internal rate of return methos is used by Ace Storage and Moving Company in analyzing a capital expenditure proposal that involves an investment of $62,818 and annual net cash of $14,000 for each of the 8 years of its useful life. (a) Determine a present value factor for an annuity of $1 which can be used in determining the internal rate of return. (b) Using the factor determined (a) and the present value of an annuity of $1 table appearing in this chapter, determine the internal rate for the proposal