Maria Mudflat has sufficient funds to choose one of two investments. The same amount will be invested in either case. Choice one: ten year $100,000 5% treasury bonds issued to yield 4% per annum, the market rate. Choice two: a risky bond of the same amount that has expected cash flows of $9,000 per year for the same period. Assuming Maria purchased the risky bond above for $105,000 and the market rate is 6%, which of the following statements is TRUE? (a) net present value is $17,080; (b)payback occurs at the end of year 8; (c) IRR is 6.25%; (d) present value of the cash flows is $222,080