The internal rate of return method is used by Terterman Construction Co, in analyzing a copital expenditure proposal that involves an investment of s54,075 and annual net cash flaws of 515,000 for each of the five years of its usefull life. Present Value of an Annuitv of $1 at Camnaund Intarnest a. Oetermine a present value factoe for an anhuity of 31 ahich can be used in determining the internal rate of return. If required, round your answer to three decimal places: b. Usine the factor determined in part (o) and the eresent value of an annuty of s1 table above, determine the internal rate of return for the proposal