B21 Ice creams BV is considering a plant expansion. The costs of the project will be $750,000 with an additional $50,000 in working capital. Initially, the cost of additional working capital is $100,000. This amount will be recovered at the end of the project. The investment is depreciated in a straight line over 5 years to a salvage value of $75,000. The project generates additional after-tax revenues of $225,000 per year, for the next 5 years. The required rate of return is 15%. What is the IRR of the project?

A) 12.60%

B) 13.60%

C) 14.60%

D) 15.60%