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	-$625	$300	$290	$280	$270

a. 30.83%

b. 29.94%

c. 32.63%

d. 29.04%

e. 24.55%