1. Use the following to answer the next four questions.

   Beta Inc. is considering two independent projects. Project A has an initial outlay of $100,000 and will provide an annual cash flow of $60,000/year for each of the next two years. Project B costs $140,000 and is expected to provide an annual cash flow of $75,000/year for each of the next two years. The required return for both projects is 9%.

   Find Project B's IRR. Round your final answer to two decimals.

   		31.87%
   		13.07%
   		-9.69%
   		4.73%
   		None of the above