A 3-year project will cost $350 at the end of year 1 and is expected to produce operating profit before depreciation and amortization (EBITDA) of $110 in year 1, $108 in year 2, and $150 in year 3. Depreciation, both real and financial, will be calculated using straight-line depreciation over 3 years. The cost of capital is 8%, and the firm's marginal tax rate is 25%. Calculate the project IRR if 100% equity financing is used. 0 5.2% 0 5.7% 0 4.9% 0 3.6%