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

$\backslash$table$[[$Project$,$Investment,$\backslash$table$[[$Annual$],[$Income$]],\backslash$table$[[$Life of$],[$Project$]]],[22$A$,$$$243,600,$$$17,130,6$ years$],[23A,271,500,20,700,9$ years$],[24A,280,600,15,700,7$ years$]]$

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. Iggy Company uses the straight$-$line method of depreciation.

Click here to view the factor table.

$($a$)$

Determine the internal rate of return for each project. $($Round answers $0$ decimal places, e$.$g$.13\%.$ For calculation purposes, use $5$ decimal places as displayed in the factor table provided.$)$

$($b$)$

If Iggy Company's required rate of return is $11\%,$ which projects are acceptable?

The following project$($s$)$ are acceptable

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