Geronimo, Inc. is considering a project that has an initial outlay or cost of $220,000. The respective future cash inflows from its four-year project for years 1 through 4 are: $50,000, $60,000, $70,000, and $80,000, respectively. Geronimo uses the internal rate of return method to evaluate projects. Will Geronimo accept the project if its cost of capital is 10%?

A.Geronimo will not accept this project because its IRR is about 9.70%.

B.Geronimo will not accept this project because its IRR is about 8.70%.

C.Geronimo will not accept this project because its IRR is about 6.50%.

D.Geronimo will not accept this project because its IRR is about 4.60%.