You have been asked to consult on the Rio Salado 2.0 Project, which is an effort to restore the Salt River as it flows through Phoenix. The project will cost $29,000,000 in the first year and an additional $600,000 each year for another 11 years. The increased amenities, recreational opportunities, and local business activity are expected to yield $4,000,000 in benefits each year, beginning in the second year of the project. The benefit yield will last 12 years total, starting the 1st year.

Find the breakeven discount rate such that the net present value of this development opportunity is zero (i.e. find the internal rate of return)

Please provide steps to explain how you found the answer. I am really confused.