Pet World is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IRR can be less than the WACC $($and even negative$),$ in which case it will be rejected.

Year

$0$

$1$

$2$

$3$

$4$

$5$

Cash flows

$$$$9,500$

$$2,000$

$$2,025$

$$2,050$

$$2,075$

$$2,100$

a$.$

$3\mathrm{.}10\%$

b$.$

$2\mathrm{.}82\%$

c$.$

$2\mathrm{.}57\%$

d$.$

$2\mathrm{.}31\%$

e$.$

$2\mathrm{.}08\%$