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(Ignore income taxes in this problem.) Overland Company has gathered the following data on a proposed investment project: Investment in depreciable equipment $150,000 Annual cash

(Ignore income taxes in this problem.) Overland Company has gathered the following data on a proposed investment project: Investment in depreciable equipment $150,000 Annual cash flows $ 40,000 Life of the equipment 10 years Salvage value -0- Discount rate 10% The internal rate of return on this investment is closest to: a. 23.4%. b. 25.4%. c. 22.7% d. 22.1%

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