A project has an initial requirement of $311,700 for fixed assets and $47,600 for networking capital. The fixed assets will be depreciated to a zero book value over the four-year life of the project and the after tax cash flow from selling the asset at the end of the project will be $2,050. All of the networking capital will be recouped after four years. The expected annual operating cash flow is $108,315. What is the project's internal rate of return if the tax rate is 34 percent? Multiple Choice 12.15 percent 10.69 percent 12.06 percent 11.99 percent 10.87 percent