Chadron Motors is analyzing a proposed investment that would initially require $$492,800$ of new

equipment. This equipment would be depreciated on a straight$-$line basis to a zero balance over the

four$-$year life of the project. The estimated salvage value is $$135,000.$ The project requires $$32,000$

initially for net working capital, all of which will be recouped at the end of the project. The projected

operating cash flow is $$174,900$ a year. What is the internal rate of return on this project if the relevant

tax rate is $35$ percent?

$19\mathrm{.}02$ percent

$18\mathrm{.}67$ percent

$21\mathrm{.}15$ percent

$16\mathrm{.}54$ percent

$17\mathrm{.}01$ percent