Project X has an initial cost of $43,275, and its expected net cash inflows are $7,500 per year for 9 years. The firm has a WACC of 8 percent, and Project Xs risk would be similar to that of the firms existing assets. Calculate Project Xs internal rate of return (IRR). a. 6.97% b. 8.00% c. 9.95% d. 55.98% e. 5.06%