1. Anne's Hoagie Heaven can purchase cooking equipment on sale for $8,200.The asset has a four-year life, will produce a cash flow of $2,700 in the first and second year, $3,100 in the third year, and $3,600 in the fourth year.Thecost of capitalis 13%.What is the project's IRR?

a.14.34%

b.9.12%.

c.18.41%

d.16.63%

e.15.96%