You are considering a business opportunity: Supplying fish, fresh from the river to a restaurant, for the next three years in return for an up-front payment from them of $10,000. You figure it will cost you $4,000 a year in supplies to provide this culinary joy.

So, the revenue and costs of the project can be summarized as follows:

Immediate and only revenue:	$10,000
Costs in Year 1:	$ 4,000
Costs in Year 2:	$ 4,000
Costs in Year 3:	$ 4,000

Find this project's internal rate of return (IRR) (without using Excel's IRR formula). Provide an explanation and show your calculations. (Note that the $10,000 is an immediate and only revenue, not per year).