please also include a time diagram and formulas used if possible

Question 3 1 pts A company is considering a project to develop a new product. The project will require an initial investment of 20 million, and will take one year to develop. Once it goes onto the market, sales of the product will generate revenues at the end of each year into perpetuity. The first revenue cash flow will occur at the end of year two, and will be in the amount of of 3 million. Each subsequent revenue cash flow will be 4% less than the previous one. Calculate the IRR for this project. O 10.26% O 8.52% O 9.68% O 10.84% 9.10%