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.

Show work without using excel

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