You are considering an investment with the following cash flows. Cash flow year 0 is -RM12,000, Cash flow year 1 is RM5,500, cash flow year 2 is RM8,000 and cash flow year 3 is -RM1,500. If the required rate of return for this investment is 13.5 percent, should you accept it based solely on the internal rate of return rule?

Select one:

a. yes, because the IRR is a positive rate of return.

b. You cannot apply the IRR rule in this case because there are multiple IRRs.

c. no, because the IRR is less than the required return.

d. yes, because the IRR exceeds the required return.