PE firm acquires a company for $200 million EBITDA at a multiple of 5x and finances it with 50% debt and 50% of equity by PE firm. It sells the company in 5 years at a multiple of 6x EBITDA and the EBITDA is $250 million and has paid down none of the debt. What is the IRR?

1) 10%

2) 20%

3) 30%

4) 40%

5) 50%