The 1095 Corporation is considering purchasing equipment which will require an initial cash investment of $285,000. It expects to increase its cash flow from the equipment as follows: Year 1 - $125,000; Year 2 - $155,000; Year 3 - $115,000. (All yearly cash flows are positive #s). If the companys required return is 13%, what is the approximate IRR for this investment?

1. Less than 0
2. Between 0 and 5%
3. Between 5% and 10%
4. Between 10% and 15%
5. Greater than 15%