22. Chronic Pain Clinic has estimated the following cash flows associated with a new project. The project cost of capital is 5 percent. Year Expected Net Cash Flow ($800,000) 400,000 400,000 400,000 What is the project's IRR? a. 18.5 percent b. 19.9 percent c. 20.4 percent d. 21.8 percent e. 23.4 percent