Question Content AreaCooper 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:

The internal rate of return is: a. between 16% and 18% b. between 18% and 20%. c. under 14%. d. None of these choices are correct