A project will produce an operating cash flow of $18,000 a year for 8 years. The initial fixed asset investment in the project will be $75,000. The net aftertax salvage value is estimated at $11,250 and will be received during the last year of the project's life. What is the IRR?

A. 18.57%

B. 16.71%

C. 17.08%

D. 18.94%

E. 17.83%