A company that makes flow meters has the following cash flows: the tooling and setup costs were $$200,000$ in year $0$ and an additional $$95,000$ in year $4,$ determine the external rate of return using the modified rate of return approach. The revenue was $$80,000$ per year in years $1$ through $9.$ Assume a borrowing rate of $2\%$ per year and an investment rate of $10\%$ per year.

a$.15\mathrm{.}34$

b$.18\mathrm{.}12$

c$.13\mathrm{.}19$

d$.$ None of these answers