Hart CorpIs Considering a Project That Has the Following Cash Flow

Multiple Choice

Hart Corp.is considering a project that has the following cash flow data.What is the project's IRR? Note that a project's IRR can be less than the WACC or negative,in both cases it will be rejected. $\begin{array}{lcccc}\text { Year } & 0 & 1 & 2 & 3 \\ \text { Cash flows } & -\$ 1.000 & \$ 425 & \$ 425 & \$ 425\end{array}$

A) 12.55%
B) 13.21%
C) 13.87%
D) 14.56%
E) 15.29%