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 $01234$

Cash flows $-$$$1540$ $$400$ $$400$ $$400$ $$400$

a$.1\mathrm{.}547\%$

b$.0\mathrm{.}99\%$

c$.1\mathrm{.}22\%$

d$.4\mathrm{.}13\%$

e$.3\mathrm{.}58\%$