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Charlie's Hamburgers is considering adding hotdogs to its menu. The hotdogs require purchasing cooking equipment...

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Charlie's Hamburgers is considering adding hotdogs to its menu. The hotdogs require purchasing cooking equipment on sale for $126,000. The asset has a 6-year life, will produce a cash flow of $38,000 in the first year, $41,000 in the second year, $44,000 in the third year. $47,000 in the fourth year, $48,000 in the fifth year, and $50,000 in the sixth year. The cost of capital is 13%. What is the project's Internal Rate of Return (IRR)? A. 25.41% B. 21.07% C. 18.36% D. 17.95% E. 19.28%

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