Wing Air, Inc. has a project with the following cash flows: Required Return of 9%. Annual cash flows:

Wing Air, Inc. has a project with the following cash flows:

Required Return of 9%.

Annual cash flows:

Year 0  $(24,000)

Year 1  $9,200

Year 2  $10,300

Year 3  $7,200

What is the internal Rate of Return (IRR)?

a. -12.58

b. $675

c. 37.08%

d. 5.75%