Thorley Inc A $9.43 \%$ B $9.91 \%$ C $10.40 \%$ D $10.92 \%$

Thorley Inc. 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. $\begin{array}{c}\begin{array}{lll} \text {Year}\\\text {Cash flows}\end{array}\begin{array}{lll} 0 \\\hline -\$1,250\end{array}\begin{array}{lll}1 \\\hline \$325\end{array}\begin{array}{lll}2 \\\hline \$325\end{array}\begin{array}{lll}3 \\\hline \$325\end{array}\begin{array}{lll}4 \\\hline \$325\end{array}\begin{array}{lll}5 \\\hline \$325\end{array}\end{array}$

a. $9.43 \%$
b. $9.91 \%$
c. $10.40 \%$
d. $10.92 \%$
e. $11.47 \%$