Moepro, Inc. is considering a fiveyear project that has an initial outlay or cost of $120,000. The respective future cash inflows from its project for years 1, 2, 3, 4 and 5 are: $55,000, $45,000, $35,000, $25,000, and $15,000. Moepro uses the internal rate of return method to evaluate projects. What is the project's IRR?

A.The IRR is less than 22.50%.

B.The IRR is about 17.86%.

C.The IRR is over 25.50%.

D.The IRR is about 19.16%.