Beam Cable Company Is Considering Investing $450,000 in Telecommunications Equipment

Beam Cable Company is considering investing $450,000 in telecommunications equipment that has an estimated life of four years with no residual value.The cash inflows are as shown below: $$\begin{array} { | r | r | } \hline \text { Year 1 } & \$ 120,000 \\\hline 2 & 235,000 \\\hline 3 & 140,000 \\\hline 4 & 98,000 \\\hline\end{array}$$ The present value of $1:
$$\begin{array} { | r | c | c | c | c | c | } \hline & 10 \% & 11 \% & 12 \% & 13 \% & 14 \% \\\hline 1 & 0.909 & 0.901 & 0.893 & 0.885 & 0.877 \\\hline 2 & 0.826 & 0.812 & 0.797 & 0.783 & 0.769 \\\hline 3 & 0.751 & 0.731 & 0.712 & 0.693 & 0.675 \\\hline 4 & 0.683 & 0.659 & 0.636 & 0.613 & 0.592 \\\hline 5 & 0.621 & 0.593 & 0.567 & 0.543 & 0.519 \\\hline\end{array}$$ The IRR of the project would be ________.

A) between 12% and 13%
B) more than 13%
C) less than 10%
D) between 9% and 10%