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. \begin{tabular}{lllll} Year & 0 & 1 & 2 & 3 \\ \cline { 2 - 5 } Cash flows & $1,375 & $425 & $425 & $425 \end{tabular} a. 2.84% b. 3.83% c. 3.20% d. 3.61% e. 3.68%