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Warm Company 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

Warm Company 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 4
Cash flows -$1540 $400 $400 $400 $400
a. 1.547%
b. 1.22%
c. 4.13%
d. 3.58%
e. 0.99%

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