Simms Corp. 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 or negative, in both cases it will be rejected.

Year	0	1	2	3
Cash flows	-$1,025	$425	$425	$425

a. 24.39%

b. 8.13%

c. 11.76%

d. 7.55%

e. 26.73%