The Sisyphean Company is planning on investing in a new project. This will involve the purchase of some new machinery costing $250,000. The Sisyphean Company expects cash inflows from this project as

detailedbelow:

Year 1

Year 2

Year 3

Year 4

$92,935

$92,935

$92,935

$92,935

The appropriate discount rate for this project is 18%.

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

A.

14%

B.

21%

C.

18%

D.

11%