Due for a raise soon, what should be me accept/quit number?

I'm started my job making $17/hr and a couple months ago they gave a whopping 3% 'CoL' raise. I am respected for doing my job well. I'm coming up on my yearly review which should include a raise what should my minimum be? Inflation is what, 8%(and rising)? So if they offer me a raise to $19 that would about make up for inflation but not be an actual raise? So I should demand at least $20/hr?

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What do you think of my plan?

1. They offer no raise, blaming higher costs or some BS, and I quit on the spot.
2. I expect them to offer me a raise to $18, at which point I will attempt to argue that's not enough. They will most likely not care and I will put in my 2 weeks. Hoping they change their minds before it's up.
3. They actually offer me something reasonable bumping me up to $19.50-$20hr.
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I got a good amount saved up so I can survive for some time without a job.