is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's projected IRR can be less than the required rate of return (and even negative), in which case it will be rejected.

Year	0	1	2	3	4
Cash flows	-$950	$300	$290	$280	$270

Select one:

a.

7.70%

b.

9.36%

c.

5.90%

d.

8.26%

e.

7.86%