Please help!

Consider the new product launch project that Kerring-Sloan is considering. The PTA-09 project is a proposed EV Fishing Boat that requires an initial investment of $2,600,000 in production infrastructure in 2020 (year 0) for production to begin in 2021. Cash flows for the project for years 0 - 8 are shown below. The introduction of a new product at year 9 will terminate further cash flows from this project. Assume a cost of capital of 9% where necessary to solve the following problem. The discounted payback period = 3.99 years, and the NPV = $889,273.

Year PTA-09

0 -$2,600,000

1 $520,000

2 $850,000

3 $985,000

4 $925,000

5 $770,000

6 $500,000

7 $100,000

8 $55,000

What is the IRR of the PTA-09 project?

(1) 5.39%

(2) 19.37%

(3) 18.78%

(4) -5.89%

Thanks very much!