$3\mathrm{.}0$

You are considering an investment in a clothes distributer. The company needs $$100,000$ today and expects to repay you $$129,000$ in a year from now. What is the IRR of this investment opportunity? Given the riskiness of the investment opportunity, your cost of capital is $17\%.$ What does the IRR rule say about whether you should invest?

The IRR of this investment opportunity is $\%.($Round to two decimal places.$)$