6-E. Four 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 shown below. Use the IRR method (incrementally) to select the best jogging track. (6.4) Alternative Initial cost Annual benefits Rate of return on investment $62,000 $52,000 $150,000 $55,000 $10,000 $8,000 $20,000 $9,000 16.4% 16.1% 15.4% 13.3% 6-E. Four 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 shown below. Use the IRR method (incrementally) to select the best jogging track. (6.4) Alternative Initial cost Annual benefits Rate of return on investment $62,000 $52,000 $150,000 $55,000 $10,000 $8,000 $20,000 $9,000 16.4% 16.1% 15.4% 13.3%