Frazier Fudge Has a Project with an Initial Outlay of $40,000,followed

Frazier Fudge has a project with an initial outlay of $40,000,followed by three years of annual incremental cash flows of $35,000.At the end of the third year,equipment will be sold producing additional cash flow of $10,000.Assuming a discount rate of 10%,which of the following is the correct equation to solve for the IRR of the project?

A) $40,000 = $35,000(1.12) 1 + $35,000(1.12) 2 + $45,000(1.12) 3
B) $40,000 = $35,000(1 + IRR) 1 + $35,000(1 + IRR) 2 + $45,000(1 + IRR) 3
C) $40,000 = $35,000/(1.12) IRR + $35,000/(1.12) IRR + $45,000/(1.12) IRR
D) $40,000 = $35,000/(1 + IRR) + $35,000/(1.IRR) + $45,000/(1 + IRR)