Ch 11 Problems eBook There are two projects under consideration by the Rainbow factory. Each of the projects will require an initial investment of $34,506 and is expected to generate the following cash flows: First Year Second Year Third Year Total Alpha Project Beta Project $32,000 7,500 $22,000 23,500 $5,000 28,740 $59,000 59,740 A. Calculate the internal rate of return on both projects. Use the IRR spreadsheet function to calculate internal rate of return. Alpha Project Beta Project % % B. Make a recommendation on which one to accept