The QJE Company purchased a piece of equipment with the following expected results: Useful life ............ . 7 years Yearly net cash inflow (starting from year 1)........ $50,000 Salvage value ........... 0 Internal rate of return Discount rate 20% 16% The initial cost of the equipment was e. $180,230 a. Cannot be determined from the information given. b. $190,600 c. $300,100 d. None of the other statements are correct.