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Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as...

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Accounting

Iggy Company is considering three capital expenditure projects. Relevant data for the projects are as follows.
\table[[Project,Investment,\table[[Annual],[Income]],\table[[Life of],[Project]]],[22A,$242,200,$16,890,6 years],[23A,271,500,20,710,9 years],[24A,283,000,15,700,7 years]]
Annual income is constant over the life of the project. Each project is expected to have zero salvage value at the end of the project. Iggy Company uses the straight-line method of depreciation.
Click here to view the factor table.
(a)
Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g.13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
\table[[Project,\table[[Internal Rate of],[Return]]],[22A,%
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