Warr 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	-$1,460	$430	$430	$430	$430

a. 4.45%

b. 6.89%

c. 4.18%

d. 17.81%

e. 12.16%