Chris Company has been offered a special-purpose metal cutting machine for $150,000. The machine is expected to have a useful life of 6 years, with no terminal disposal value. Savings in cash operating costs are estimated to be $35,000 per year. The companys tax rate is 11%. The company has a required real rate of return is 5 percent. The company uses the straight-line depreciation method. The IRR is closest to:

a) 9.46 percent

b) 5.78 percent

c) 11.10 percent

d) 9.85 percent