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

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. Buerhle Company uses the straight-line method of depreciation.

Instructions
(a) Determine the internal rate of return for each project. Round the internal rate of return factor to three decimals.
(b) If Buerhle Company's required rate of return is 11%, which projects are acceptable?

Annual Project nvestment Income 24,400 22A 23A 24A 270,000 $15,000 21,000 Life of Project 6 years 9 years 7 years $240,000 280,000