A machine costs $500,000 and would produce cash flows of $150,000 per year for the first two years, $180,000 per year for the next two years, and $80,000 in the final year. If the required return is 15%, what is the IRR of buying the new machine?

A. 15.43%

• B. 6.85%

• C. 17.80%

• D. 19.34%