Panhandle Corp. is considering three projects. Each project has an initial outlay of $338,000.

Project A is expected to earn $102,000 per year for four years.

Project B is expected to earn $450,000 in year four.

Project C is expected to earn $25,000 in year one, $75,000 in year two, $125,000 in year three, and $200,000 in year four.

The WACC is 7%.

What is the order of IRR from largest to smallest?

		A, B, C
		A, C, B
		B, A, C
		C, B, A