XYZ is evaluating a project that would require an initial investment of $74,900.00 today. The project is expected to produce annual cash flows of $8,900.00 each year forever with the first annual cash flow expected in 1 year. The NPV of the project is $7,100.00. What is the IRR of the project?

		10.85% (plus or minus 0.02 percentage points)
		11.88% (plus or minus 0.02 percentage points)
		9.48% (plus or minus 0.02 percentage points)
		13.13% (plus or minus 0.02 percentage points)
		None of the above is within 0.02 percentage points of the correct answer