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	-$1,375	$425	$425	$425

Group of answer choices

3.68%

2.84%

3.83%

3.20%

3.61%