A firm is considering a project that will require an initial investment today and is expected to generate cash inflows of $50,000 for the next 5 years (i.e. years 1-5), followed by cash inflows in the amount of $24,000 for the following 5 years (i.e. years 6-10). If the project's IRR is 89% and the firm's WACC is 6.5%. what is the amount of the initial investment?

A. $280,575

B. $264,852

C. $286,000

D. $370,000