Show how you got the answer through calculator only please, we are not allow to use excel during the test.

Project Boyaz is expected to generate $24,000 each year for the next four years. It will cost $60,000 to implement the project today. If the projects required rate of return is 12%, what is its internal rate of return?

		11.59%
		14.40%
		18.93%
		21.86%