(Ignore Income Taxes in This Problem

(Ignore income taxes in this problem. ) The Yates Company purchased a piece of equipment which is expected to have a useful life of 7 years with no salvage value at the end of the 7-year period.This equipment is expected to generate a cash inflow of $32,000 each year of its useful life.If this investment has a internal rate of return of 14%,then the initial cost of the equipment is:

A) $150,000
B) $137,216
C) $12,800
D) $343,360