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A clothing manufacturer anticipates that the market for a certain popular T-shirt will continue to be strong for a few years. The manufacturer, accordingly, is

A clothing manufacturer anticipates that the market for a certain popular T-shirt will continue to be strong for a few years. The manufacturer, accordingly, is considering the purchase of equipment that would generate a cash flow of $100,000 in 1 year and will continue to generate this same cash flow for the next two consecutive years (for a total of three years). The project's initial investment is estimated to be $253,129.47. What is the project's IRR? Place your answer in percentage form. That is, if your answer is five point six one percent, you will enter this as 5.61.

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