Simkins Renovations Inc. 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 WACC (and even negative), in which case it will be rejected. Year 0 1 2 3 4 Cash flows -$600 $300 $290 $280 $270

a. 31.48%

b. 36.35%

c. 26.61%

d. 34.08%

e. 32.45%