Muse Corporation is considering purchasing a delivery vehicle that would cost $378,000, would have a useful life of 5 years and no salvage value. The delivery vehicle would result in cost savings of $110,100 per year.

Using the table below, the internal rate of return (IRR) on the investment in the delivery vehicle is closest to:

Periods	10%	12%	14%	16%
1	0.909	0.893	0.877	0.862
2	1.736	1.690	1.647	1.605
3	2.487	2.402	2.322	2.246
4	3.170	3.037	2.914	2.798
5	3.791	3.605	3.433	3.274