You can choose between the following rent payments: a. A lump sum cash payment of $100,000; b. 10 annual payments of $12,000 each, the first occurring immediately At what interest rate would you be indifferent between the first and the second choice above? Exact, and approximate solutions are both fine. (Hint: Graph the NPV of the second project as a function of the interest rate.)

a. 9.45%

b. 7.45%

c. 8.45%

d. 6.45%

excel works

but i need to solve by hand usually