A firm is considering an investment project with the following cash flows: Year 0 = -$120,000 (initial costs); Year 1= $40,000; Year 2 =$90,000; Year 3 = $30,000. The company has a 12% cost of capital. What is the projects internal rate of return (IRR)?

Group of answer choices

A. 16.3%

B. 28.3%

C. 30.1%

D. 19.5%