Chronic Pain Clinic has estimated the following cash flows associated with a new project. The project cost of capital (discount rate) is 10 percent. Year 0: ($800,000) Year 1: $400,000 Year 2: $400,000 Year 3: $400,000 What is the projects internal rate of return? 1. 18.5 percent 2. 19.9 percent 3. 20.4 percent 4. 21.8 percent 5. 23.4 percent