Present value of an Annuity of $1 in Arrears Periods 1 2 4% 6% 8% 10% 0.962 0.943 0.926 0.909 1.886 1.833 1.783 1.736 2.775 2.673 2.577 2.487 3.630 3.465 3.31213.170 4.452 4.212 3.993 3.791 5.242 4 .917 4.623 4.355 6.0025.5825.206 4.868 6.733 6.210 5.7475.335 7.435 6.802 6 .247 5.759 8.111 7.360 6.710 6.145 12% 14% 0.893 0.877 1.6901.647 2.402 2.322 3.037 2.914 3.605 3.433 4.111 3.889 4.564 4.288 4.968 4.639 5.328 4.946 5.6505.216 7 9 Ruby Company is considering a project with an initial investment of $300,000 that will yield annual net cash flows of $90,580 and will be depreciated at $75,000 per year over its 4 year life. What is the internal rate of return? (Note: Round the discount factor to three decimal places.) a. 12% b. 8% c. 14% d. 10% e. 6%