A project is being proposed that involves the acquisition of an equipment that costs P12,000 and has a useful life of 3 years, which also coincides with the time the proponents want to recover the initial investment. The firm estimates that cash flow as an effect of such purchase will be P6,000, P5,000, and P4,000 in the next three years, respectively. If the firm's discount rate is 10%. Compute for the IRR. is the project acceptable based on this criterion (Pick the best answer)? O a. Yes. IRR is more than than discount rate O b. NO. IRR is 9% O c. Yes, IRR is positive at 2.33% O d. No. IRR at 2.33% is insufficient