Evaluate the following project using the internal rate of return (IRR) method, based on an 8% opportunity cost of capital:

Initial Cost	$9,000
End of Year 1	$4,500
End of Year 2	$5,600

a.reject; because the IRR exceeds the opportunity cost

b.accept; because the IRR exceeds the opportunity cost

c.reject; because the opportunity cost exceeds the IRR

d.accept; because the opportunity cost exceeds the IRR