Ueker Company is considering three capital expenditure projects. Relevant data for the projects are as follows:
| Project | Investment | Annual Income | Life of Project |
| 22A | $242,640 | $16,990 | 6 years |
| 23A | 271,590 | 21,000 | 9 years |
| 24A | 284,460 | 17,690 | 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. Ueker Company uses the straight-line method of depreciation.
(For calculation purposes, use 5 decimal places as displayed in the factor table provided.)
(a) Determine the internal rate of return for each project. (Round answers 0 decimal places, e.g. 10.)
| Project | Internal Rate of Return |
| 22A | _____% |
| 23A | _____% |
| 24A | _____% |
A company earning the income for the financial year is known as annual income. The calculation of annual income is through the formula Bonuses+ Commission received + Overtime amount for the fiscal year.
