You made an initial investment in a property with a $200,000 equity investment and borrowed the rest. The cash flows (after debt service) from the investment for the next four years were; $25,000, $35,000, $45,000 and $50,000, respectively, and the net proceeds from the property sale (in year 4) was $240,000. What was your Internal Rate of Return (IRR) for the investment? Ignore taxes for this question and focus on just cash flows given."

		a. (8.6%) negative return
		b. 18.7%
		c. 21.9%
		d. 17.5%