Wagner Industries is considering a project which will produce cash inflows of $13,150 a year for 4 years followed by $5,000 a year for the following 5 years. What is the internal rate of return if the initial cost of the project is $50,000?

Select one:

a. 12.93 percent

b. 13.39 percent

c. 13.83 percent

d. 13.90 percent

e. 14.00 percent