You start to plan a big project. The initial purchase of the land and materials will cost $100 million today. The project will generate $16 million of income per year for the next 10 years. At the end of the 10^th year, you will need to spend $10 million to restore the land (Hint: CF in year 10 = 6 million, cf from year1 to year9 = 16).

4) the IRR =?

A) 10.04%

B) 7.45%

C) 8.63%

D) 7.92%