Cooper Industries is considering a project that would require an initial investment of $101,000. The project would result in cost savings of $62,000 in Year 1 and $70,000 in Year 2. A partial table of the present value of a single amount is as follows: Periods 10% 12% 14% 16% 18% 20% 1 0.90909 0.89286 0.87719 0.86207 0.84746 0.83333 2 0.82645 0.79719 0.76947 0.74316 0.71818 0.69444 The internal rate of return is: a. between 16% and 18%. b. under 14%. c. between 18% and 20%. d. None of these choices are correct