What is the IRR for a project whose initial cost after taxes is $ 5,000,000 and is expected to provide operational cash flows of $ 1,800,000 in year 1, $ 1,900,000 in year 2, $ 1,700,000 in year 3, and $ 1,300,000 in year 4? If the cost of capital is 14%, will this project be accepted?

a. 14.01%; it is accepted

b. 13.57%; is rejected

c. 13.57%; it is accepted

d. 14.01%; is rejected

e. Cannot be calculated because information is missing