Filter Corp. has a project available with the following cash
flows:
| Year | Cash Flow | |
| 0 | −$15,700 | |
| 1 | 5,100 | |
| 2 | 6,400 | |
| 3 | 5,800 | |
| 4 | 4,200 | |
What is the project's IRR?
a. 14.32%
b. 15.51%
c. 15.91%
d. 16.70%
e. 14.91%

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