33. Warr Company is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's projected IRR can be less than the WACC or negative, in both cases it will be rejected. Year 0 1 2 3 4 Cash flows -$1,275 $400 $400 $400 $400 A. 11.99% B. 8.57% C. 9.45% D. 10.52% E. 9.74% 34. Taggart Inc. is considering a project that has the following cash flow data. What is the project's payback? Year 0 1 2 3 Cash flows -$625 $500 $500 $500

A. 1.28 years B. 1.10 years C. 1.25 years D. 1.55 years E. 1.20 years