1. 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
   $157,452.98	$157,452.98	$157,452.98	$157,452.98

   The appropriate discount rate for this project is 15%. The internal rate of return (IRR) for this project is closest to .

   	A.	13%
   	B.	16%
   	C.	21%
   	D.	24%

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