Suppose an industrial building can be purchased for $2,500,000 and is expected to yield cash flows of $180,000 in each of the next five years. (Note: assume payments are made at end of year.) If the building can be sold at the end of the fifth year for $2,800,000, calculate the IRR for this in- vestment over the five-year holding period.

A) 0.09%.

B) 4.57%.

C) 9.20%.

D) 10.37%.