Sharps, Inc. is considering the purchase of equipment that would cost $62,800, have a useful life of 5 years, no salvage value and would result in labor savings of $21,000 per year. The internal rate of return on the investment in the equipment is closest to (factors for selected rates are presented below):

	17%	18%	19%	20%
1	0.855	0.847	0.840	0.833
2	1.585	1.566	1.547	1.528
3	2.210	2.174	2.140	2.106
4	2.743	2.690	2.639	2.589
5	3.199	3.127	3.058	2.991

	a.	20%
	b.	17%
	c.	18%
	d.	19%