3 1.5 points Use the following information to answer questions 1-4. A firm has identified four projects available for investment. All projects shown below require an initial investment today of $14,000. The firm currently uses a common discount rate of 10% for all projects and the firm's required payback period is 2 years. The expected cash flow stream for each of the four projects is given in the following table: Project Life Year 1 Year 2 Year 3 Year 4 Year 5 Project A $1,500 $12,500 $7,000 B $6,000 $5,000 $3,000 $6,000 $7,000 $2,000 D $6,000 $5,000 $3,000 $2,000 $1,000 The IRR for Project C is closest to: 7.14% 11.03% 6.96%. 28.57% 2 years 3 years 4 years 5 years