Meyer,Incis Considering a Very Risky Five-Year Project That Has an Initial

Meyer,Inc.is considering a very risky five-year project that has an initial outlay or cost of $70,000.The future cash inflows from its project for years 1,2,3,4,and 5 are all the same at $35,000.Meyer uses the internal rate of return method to evaluate projects.Will Meyer accept the project if its hurdle rate is 41.00%?

A) Meyer will probably reject this project because its IRR is about 39.74%,which is slightly below its hurdle rate.
B) Meyer will probably accept this project because its IRR is about 41.04%,which is slightly above its hurdle rate.
C) Meyer will accept this project because its IRR is about 41.50%.
D) Meyer will accept this project because its IRR is over 45.50%.