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: a. $60,013 b. $65,017 c. $63,111 d. $57,215 e. $49,186