Company XYZ Pty Ltd considers a potential project with the following estimated net cash flows ($000s): Year 0 1 2 Project C -8,000 -4,000 15,000 The project would be funded entirely by debt (borrowing) rather than by equity capital. The average borrowing cost for the company for a 2 year project with these risk characteristics is 10% p.a. Calculate the Internal Rate of Return (IRR) for Project C (2 d.p.) and use it to determine whether ABC should proceed with the project. [5 marks] WITHOUT USING EXCEL