Kingston Utilities is evaluating two projects. The first project has net after-tax cash inflows of $64396 per year starting at the end of year 1. The upfront cost of the project is $222000 and its expected life is 5 years. The board rejects the project because the project's IRR is exactly 1% lower than our weighted average cost of capital. The second project has an initial cost of $175000 with the same expected life. Assuming project B has the same risk level as project A, what's the minimal required after-tax cash inflow of project B for the board to accept project B (ie for project B to break-even)?

a.) The answer is 50153.79

b.) The answer is 50762.61

c.) The answer is 51991.32

d.) The answer is 49544.97