Facebook is considering two mutually exclusive plans for extracting oil on property for which it has mineral rights. Both plans call for the expenditure of $11 million to drill development wells. Under Plan A, all the oil will be extracted in 1 year, producing a cash flow at t = 1 of $11.5 million; under Plan B, cash flows will be $1.5 million per year for 20 years. What is the crossover rate? Round your answer to two decimal places.

	A.	9.27%
	B.	10.32%
	C.	10.74%
	D.	13.69%
	E.	15.11%