DYI Construction Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive cash flows over the next 5 years in the amounts of $325,000 in year one, $325,000 in year two, $150,000 in year three, $150,000 in year four, and $90,000 in year five. DYIs required rate of return in 8%. What is the internal rate of return of this project?

1. 13.82%

2. 13.59%

3. 15.09%

4. 15.53%