Zulia Inc. is planning to invest in a new development. The cost of the project will be $23 million and is expected to generate cash flows of $12,000,000, $11,750,000, and $7,350,000 over the next three years. The company's cost of capital is 20 percent. What is the internal rate of return on this project? Select the choice that is closest to your answer. Group of answer choices

22%

20%

24%

18%