Tennessee Corporation is analyzing a copital expenditure that will involve a cash outlay of $109,332, Estimated cash flows are expected to be $36,000 annually for 4 years. The present value fectors for an annulty of $1 for 4 years at interest of 10%,12%,14%, and 15% are 3.170,3.037,2.914, and 2.855, respectively. The intemal rate of return for this investment is b. 10%6 b. 12% c. 3 d. 9%