You are considering investing in a new gold mine in South Africa. Gold in South Africa is buried very deep, so the mine will require an initial investment of $260 million. Once this investment is made, the mine is expected to produce revenues of $30 million per year for the next 20 years. It will cost $8.9 million per year to operate the mine. After 20 years, the gold will be depleted. The mine must then be stabilized on an ongoing basis, which will cost $4.8 million per year in perpetuity. Calculate the IRR of this investment. (Hint: Plot the NPV as a function of the discount rate.) The IRR of this investment is: (Select the best choice below.) A. The IRR is infinite as a result of the perpetuity. B. There are multiple IRRs. C. The IRR is about 11.8%. OD. No positive IRR exists since the NPV, calculated as a function of various discount rates, never equals or exceeds zero