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Rent-to-Own Equipment Co. is considering a new inventory system that will cost $550,000. The system is expected to generate positive cash flows over the next

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Rent-to-Own Equipment Co. is considering a new inventory system that will cost $550,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $120,000 in year two, $110,000 in year three, and $80,000 in year four. Rent-to-Own's required rate of return is 8%. What is the internal rate of return of this project? a. 8.07% Ob.8.89% O c.9.26% d. 10.52%

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