9) You make a $60,000 investment that gives you a cash flow of $5,900 in year one, $3,200 in year two, $15,800 in year three, and $50,500 in year four. What annual rate of return has your investment generated? Assume all cash flows are received at the end of cash year and no terminal value.

A. 9.53%

B. 8.46%

C. 7.15%

D. 6.86%