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Use IRR method pls Five mutually exclusive projects are being considered for a new two-mile jogging track. The life of the track is expected to

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Five mutually exclusive projects are being considered for a new two-mile jogging track. The life of the track is expected to be 80 years, and the sponsoring agency's MARR is 12% per year. Annual benefits to the public have been estimated by an advisory Committee and are show below. Use the IRR method incrementally to select the best jogging track. Alternative A | D E Initial cost $62,000 $52,000 $58,000 $150,000 $55,000 Annual benefits $10,000 $8,000 $6,000 $20,000 $9,000 Rate of Return on investment 16.1% 15.4% 10.4% 13.3% 16.4%

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