The company intends to invest in a business improvement for Project PQ with an initial cost of R$4250$; the required return rate is $11\%$ and the payback period is four years.

The projected net annual cash flows forthe project are as follows:

$\backslash$table$[[$Project PQ$,],[$Year $0,-4250],[$Year $1,3200],[$Year $2,3000],[$Year $3,3800],[$Year $4,3500]]$

What is the IRR of the proposed project?

a$.-70\mathrm{.}12$

b$.67\mathrm{.}16$

c$.-61\mathrm{.}76$

$$ d$.76\mathrm{.}61$