Dasht Co is considering a new project. Details of the proposed project are as follows: Life of project: 6 years Initial cost: $85,000 Annual savings $24,000 NPV at 5%: $36,824 What is the internal rate of return for this project to the nearest 1%? Use Annuity factor for 20% provided below Year 20% annuity factor Present value 0 1 1-6 3.326 O a. 18% Ob 20% . 16% O d. 22%