You are looking into an investment with the following cash flows and your required rate of return is 17%.

Year	Cash Flow
0	-1,500
1	400
2	450
3	500
4	550
5	700

What is the IRR for this investment?

Select one:

a.

19.49%

b.

21.50%

c.

15.63%

d.

12.75%