Big Boy Burgers has to buy a new grill. The equipment will cost $15,000. The cash flows resulting from the investment are as follows: Year 1: $7,000; Year 2: $9,500; Year 3: $10,000; Year 4: $3,000. Calculate the IRR of the project.

Group of answer choices

-47.38%

36.60%

$6,560.74

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