The Sisyphean Company is planning on investing in a new project. This will involve the purchase of some new machinery costing$450,000. The Sisyphean Company expects cash inflows from this project as detailedbelow:

Year One

Year Two

Year Three

Year Four

$200,000

$225,000

$275,000

$200,000

The appropriate discount rate for this project is16%.

The IRR for this project is closestto:

A.

18.9%

B.

22.7%

C.

39.1%

D.

34.1%