The Sisyphean Company is planning on investing in a new project. This will involve the purchase of some new machinery costing

$400,000.

The Sisyphean Company expects cash inflows from this project as

detailed below:

Year 1	Year 2	Year 3	Year 4
$178,494	$178,494	$178,494	$178,494

The appropriate discount rate for this project is

20%.

The internal rate of return (IRR) for this project is closest to:

17%

B.

28%

C.

21%

D.

32%