A real estate investor likes to "flip" houses. That is, he likes to buy a house at a low price and then "flip" or sell the house for a higher price. The investor is looking at a foreclosed house that will cost $230,248.00 today. He will invest an additional $42,067.00 in the first year of owning the house to upgrade its features. He then believes he can sell the house for $418,463.00 at the end of the second year.

What is the IRR of this investment?