(Ignore income taxes in this problem.) Given the following data:

Cost of equipment $55,750

Annual cash inflows $10,000

Life of the equipment ? years

Internal rate of return 16 %

The life of the equipment would be:

Select one:

a. it is impossible to determine from the given data

b. 15 years.

c. 12.5 years.

d. 5.75 years.