4) (Present value tables are required.) Currence Corporation is considering the purchase of a special blow-molding machine that would cost $59,752 and would have a useful life of 8 years. The machine would generate $11,200 of net annual cash inflows per year for each of the 8 years of its life. The internal rate of return on the machine would be closest to

A) 8%.

B) 10%.

C) 12%.

D) 14%.

PLEASE SHOW ANSWER AND PROVIDE EXPLANATION!