Your firm is considering overhauling its production plant. There are two options with the following cash flows (in milions of dollars) 1) -15, 8, 8, 8 2) -60, 30, 30, 30. The first number is a negative PV as the upfront cost. Calcualte the incremental IRR.

Question 11Select one:

a.

32.15%

b.

31.25%

c.

27.76%

d.

23.38%

e.

21.90%