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Piper Penny is starting a new project. They will make an initial investment of $230,000 in machinery for making pipes. The market salvage value of

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Piper Penny is starting a new project. They will make an initial investment of $230,000 in machinery for making pipes. The market salvage value of the machinery at the end of the 4-year project will be $35,000 after-tax. What must be the annual operating cash flow each year for the project to have an IRR of 10%? Select one: O a. $57,215 b. $65,017 O c. $60,013 O d. $49,186 O e. $63,111

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