Cirice Corp. is considering opening a branch in another state. The operating cash flow will be $194,300 a year. The project will require new equipment costing $604,000 that would be depreciated on a straight-line basis to zero over the 4-year life of the project. The equipment will have a market value of $185,000 at the end of the project. The project requires an initial investment of $43,000 in net working capital, which will be recovered at the end of the project. The tax rate is 34 percent. What is the project's IRR? 9.88% 15.15% 16.55% 17.87% 13.40%