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: Year 4 Year 5 Project Project Life Year 1 Year 3 Year 2 $12,500 $1,500 A 2 years $7,000 $6,000 $5,000 3 years $3,000 $6,000 $7,000 $2,000 C 4 years $6,000 $5,000 $3,000 $2,000 $1,000 D 5 years The IRR for Project C is closest to: 28.57% 11.03% 6.96% 7.14%