A.R.M., Inc is considering an investment with an initial cost of $175,000 that would be depreciated straight into a zero book value over the life of the project. The cash inflow for year one is $75,000. The cash inflows generated by the project are expected to grow by 10% each year through year four. What is the internal rate of return of this project 9.98 percent 22.5 percent 32.5 percent 12.79 percent 11.50 percent