Fresh Food supermarket is planning to invest in new refrigerators which will cost $120,000. Investing on the refrigerators will increase the annual cash flows of the supermarket by $55,300, $46,100, $35,700, and $28,200 over the next four years, respectively. What is the internal rate of return (IRR) of the project?

Group of answer choices

15.56%

18.45%

16.18%

17.89%