Maxwell Feed & Seed 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 (and even negative), in which case it will be rejected.
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Year Cash flows
0 .......... -$9,500 Year 0
1 .......... $2,000 Year 1
2 .......... $2,025 Year 2
3 .......... $2,050 Year 3
4 .......... $2,075 Year 4
5 .......... $2,100 Year 5