Crane Company is considering three capital expenditure projects. Relevant data for the projects are as follows. Annual Life of Project Investment Income Project 22A $243,500 $17,150 6 years 23A 272,500 20,770 9 years 24A 284,2001 15,700 7 years Annual net income is constant over the life of the projec Each project is expected to have zero salvage value at the end of the project. Crane Company uses the straight-line method of depreciation. Click here to view PV table. (a) Determine the internal rate of return for each project. (Round answers O decimal places, e.g. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Determine the internal rate of return for each project. (Round answers O decimal places, eg. 13%. For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Project 22A 23A 24A Internal Rate of Return % (b) If Crane Company's required rate of return is 11%, which projects are acceptable? The following project(s) are acceptable 22A and 23A