XYZ is considering a project that has an up-front cost and a series of positive cash flows. The project's estimated cash flows are summarized below:
Project Year   Cash Flow
0                     ?
1           $400 million
2           $600 million
3           $300 million
4           $500 million
The project has an exact payback of 2.85 years. What is the project's internal rate of return (IRR)?