1. Coca Cola is evaluating an investment in a new syrup production machine. The initial investment in the project is $110,000. It has been estimated that annual cash inflows of $40,000 will be generated by the machine for the next 5 years. The opportunity cost of the project is estimated to be 6%. Calculate the Internal Rate of Return (IRR) of the

   project.

   	A.	6%
   	B.	12.7%
   	C.	23.9%
   	D.	19.6%
   	E.	32.8%