Cash Flow Project Q Project R Project S Project T Year 1 $350,000 $400,000 $700,000 $ 200,000 Year 2 $350,000 $400,000 $600,000 $ 400,000 Year 3 $350,000 $400,000 $500,000 $ 600,000 Year 4 $350,000 $400,000 $400,000 $ 800,000 Year 5 $350,000 $400,000 -$300,000 $1,000,000 Discount rate 4% 8% 13% 18% Note: Each project has a $1.5 million required initial expense. What is the IRR for project Q? 4.52 5.63 4.93 5.37 5.94