A project manager is using the internal rate of retum method to make the final decision on which project to undertake. Which of these four projects has the highest internal rate of return?

$$100,000$ initial outlay with $$10,000$ cash inflows during the first two years. $$20,000$ during the third and fourth wears, and $$30,000$ during the fifth year $$50,000$ initial outlay with $$5,000$ cash inflows during the first two vears, $$15,000$ during the third and fourth years, and $$20,000$ during the fifth year $$100,000$ initial outlay with a $$5,000$ cash inflow during the first year, $$15,000$ cash inflow during the second year, and $$25,000$ cash inflows during years three through five

$$75,000$ initial cutlay with a $$5,000$ cash inflow during the first year, increasing by $$5,000$ per vear through the fifth year