What is the internal rate of return of a projetc with the following cash flows?

timing of cash flow: Amount of cash flow:

Immediate 10,000 cash outflow

End of year 1 5000 cash outflow

End of year 2 0 cash flow

End of year 3 10,000 cash flow

End of year 4 20,000 cash flow

select one:

a.17.61%

b.19.32%

c.21.54%

d.23.12%