A firm is considering the following project which has the following cash flows:

Year 0--$350,000;Year 1-$120,000;Year 2 --$80,000;Year 3-$45,000

Year 4-$45,000;Year 5-$200,000.

All cash flows are positive except for the Year 0 cash flow which is negative.Assume all cash flows are received at the end of each year.If the required return is 11%, what is the IRR for this project?

a. less than 5%

b. between 5-10

c. between 10-15

d. between 20-25

e. greater than 25