Salvador Corporation Is Considering the Purchase of a Special Blow-Molding

Salvador Corporation is considering the purchase of a special blow-molding machine that would cost $64,366 and would have a useful life of 8 years. The machine would generate $11,200 of net annual cash inflows per year for each of the 8 years of its life. The internal rate of return on the machine would be closest to

A) 8%.
B) 10%.
C) 12%.
D) 14%.