Sophie Company is considering whether to invest in a piece of equipment that requires an investment of $250,000 today. The project will provide net cash flows of $50,000 per year for eight years, and it will have a salvage value of $51,509 at the end of eight years. Calculate the INTERNAL RATE OF RETURN. Ignore income taxes. 14.0% 14.7% 13.2% 15.1% 12.8%