Indicate how the internal rate of return is calculated using the factor. (answer is in % format)

required Assuming a six-year time horizon, what is the internal rate of return of the remodeling project? Calculate sing both present value factors and separately using Excel's IRR function. 110,000.00 Annual cash flow: Revenue Less costs: Other than depreciation Depreciation Income before taxes Income tax expense Net income Add depreciation Cash flow 10,000.00 58,333 41,667 8,333 33,333.33 58,333 $ 91,667 Present value factor: $ 350,000 $ 91,667 3.82 factor Indicate how the Internal rate of return is calculated using the factor arrived at above. %