gamma company is considering an investment opportunity with the following expected net cash inflows: year 1, 250,000; year 2, 350,000; year 3, 395,000. the company uses a discount rate of 12% and the initial investment is 750,000.

	10%	12%	14%	15%
1	0.909	0.893	0.877	0.870
2	0.826	0.797	0.769	0.756
3	0.751	0.712	0.675	0.658
4	0.683	0.636	0.592	0.572
5	0.621	0.567	0.519	0.497

the IRR of the project will be:

a) less the 12%

b) between 12% and 13%

c) between 14% and 15%

d) more than 12%