A project involves an immediate expenditure of $1 000, and will require additional expenditures of $100 a year for the next ten years, starting one year from now.After ten years it yields an income of $3 000. What is its rate of return?

A) 3.5%

B) 4.5%

C) 5.5%

D) 6.5%

E) 7.5%

Could you please provide a calculation step-by-step guide to help me understand how they got C.