Use the table below to calculate the internal rate of return for Projects A, B, and C. A firm wants at least 14% return. Which project meets the criteria?

Year Project A Project B Project C

Initial outlay ($15,000) $15,000) ($15,000)

1. 7,000 9,000 8,000

2. 4,000 6,000 5,000

3 3,000 3,000 3,000

4. 2,000 1,000 3,000

A. Project A

B. Project B

C. Project C

D Projects A and C are too close to make a choice evident