Your firm is considering a fast-food concession at the World's Fair. The cash flow pattern is somewhat unusual since you must build the stands, operate them for 2 years, and then tear the stands down and restore the sites to their original conditions. You estimate the net cash flows to be as follows: Time Expected Net Cash Flows 0 ($800,000) 1 $700,000 2 $700,000 3 ($400,000) What is the approximate IRR of this venture? 5% 15% 25% 35% 45%