Siegmeyer Corp. is considering a new inventory system, Project A, that will cost $800,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $325,000

in year two, $400,000 in year three, and $200,000 in year four. Siegmeyer's required rate of return is 12%.

What is the internal rate of return of this project?

O 11.42%

O 16.57%

O 20.93%

O 23.12%