Muse Corporation has gathered the following data on a proposed investment project:

Investment required in new equipment	$ 132,000
Annual cash inflows	$ 42,200
Salvage value of new equipment	$ 10,000
Life of the investment	5 years
Annual depreciation	$ 24,400

Using the factors below, the internal rate of return on Muses investment is closest to:

Periods	14%	16%	18%	20%
1	0.877	0.862	0.847	0.833
2	1.647	1.605	1.566	1.528
3	2.322	2.246	2.174	2.106
4	2.914	2.798	2.690	2.589
5	3.433	3.274	3.127	2.991