Company, is confronted with six projects competing for its fixed budget $250.000 the initial investment and IRR for each project are as follows: Project Initial Investment IRR Present Value of cash inflow at 10% A $ 80,000 12% 100,000 B 70,000 20% 112,000 C 100,000 16% 145,000 D 40,000 8% 36,000 E 60,000 15% 79,000 F 110,000 11% 126,500 Knowing that the firm cost of capital is 10% REQUIRED Recommend the company which project should be acceptable according to IRR approach; discuss the rational of using the IRR method.