Westover Industries is considering a project which costs $$219,800$ to undertake. The project will yield monthly cash flows of $$7,250$ for three years. What is the rate of return on this project?

$7\mathrm{.}67\%$

$11\mathrm{.}52\%$

$9\mathrm{.}38\%$

$9\mathrm{.}03\%$

$10\mathrm{.}67\%$