Simpson, Inc. is considering a five-year project that has an initial outlay or cost of $80,000. The respective future cash inflows from its project for years 1, project's IRR? 2, 3, 4 and 5 are: $15,000, $25,000, $35,000, $45,000, and $55,000. Simpson uses the internal rate of return method to evaluate projects. What is the The IRR is about 24.16% The IRR is over 26.50% The IRR is less than 22.50%. The IRR is about 26.16%