Bonbelo, Inc. is considering a project with the following net cash flows: Year 0 1 2 3 4 5 6 7 8 9 Annual Net Cash Flow ($2,000,000) $350,000 $350,000 $350,000 $375,000 $375,000 $375,000 $400,000 $400,000 $400,000 Bonbelo's weighted average cost of capital is 8.35%. What is the IRR of this project? 1) 7.98% 2) 8.35% 3) 11.60% 4) 10.38% 5) 9.25%