Jerry Hall invested in a project that required an initial investment of $521,612 and had cash inflows of $100,000 per year for 10 years. A partial table of the present value of an annuity of $1 in arrears is as follows:

Year	2%	4%	6%	8%	10%	12%	14%	16%
10	8.98259	8.11090	7.36009	6.71008	6.14457	5.65022	5.21612	4.83323

What is the internal rate of return for this investment?

a.8%

b.14%

c.12%

d.10%

e.16%