20. The Jensen Company has compiled the following information about a project they are considering. Initial cost: $500,000, to be depreciated straight line over 5 years Operating Cash Flows for Years 1-5: $50,000, $125,000, $220,000, $250,000, $125,000 What is the internal rate of return (IRR) on this project?

a. 12.00%

b. 14.11%

c. 15.39

d. 16.01%

e. None of the above. Correct answer _________