What is the IRR for the following project if its initial after-tax cost is $6,000,000 and it is expected to provide after-tax operating cash flows of (-$1,500,000) in year 1, $2,900,000 in year 2, $2,700,000 in year 3 and $2,300,000 in year 4?

19.47%

1.93%

7.56%

12.14%