Olive Corporation is considering the purchadecof a new piece of equipment. The cost savings from the equipment would result un an annual increase in net cash flow of $250600. The equipment will have an initial cost of $1300900 and an 8 year usedul life with no salvage value. If Olives cost of capital is 10%, what is the internal rate of return?

A) less than zero

B) between 6% and 8%

C) greater than 10%

D) between 8% and 10%