A PE fund buys a company (with no existing debt or cash) for $700 million, at a purchase EBITDA multiple of 10.0x. They use 75% debt and 25% equity. At the end of the 3 -year period, they sell the company at an exit EBITDA multiple of 12.0x. However, EBITDA has not changed at all. Finally, the PE fund has paid off $200 million worth of debt. What is the approximate IRR on this deal? Approximately a 15\% IRR Approximately a 43% IRR. Approximately a 26\% IRR. Approximately a 35% IRR