Frazier Fudge has a project with an initial outlay of $40,000, followed by three years of annual incremental cash flows of $35,000. At the end of the third year, equipment will be sold producing additional cash flow of $10,000. IRR of the project would be?

	a.	62.65
	b.	65.72
	c.	74.55
	d.	72.43