Southall Corporation is considering changing its payment date from "net 30 " to "net 50 " to help its financially weaker customers. The company forecasts that this change will increase the collection period from 40 days to 55 days (use a 360 -day year), increase sales from $9,000,000 to $9,900,000, but also increase bad debts from 1% of sales to 1.25% of sales. Southall's variable costs are 75% of sales, its tax rate is 40%, and it has a 14% cost of capital. Reference: Ref 12-11 What is the internal rate of return (IRR) of the proposal? \begin{tabular}{l} 29.85% \\ \hline 17.93% \\ \hline 23.54% \\ 19.33% \end{tabular}