An investor has projected three possible scenarios for a project as follows: Pessimistic-NO/ will be $290,000 the first year, and then decrease 2 percent per year over a five-year holding period. The property will sell for $2.16 million after five years. Most likely-NO/ will be level at $290,000 per year for the next five years (level NOI and the property will sell for $2.90 million. Optimistic-NO/ will be $290,000 the first year and increase 3 percent per year over a five-year holding period. The property will then sell for $4.00 million. The asking price for the property is $2.90 million. The investor thinks there is about a 30 percent probability for the pessimistic scenario, a 40 percent probability for the most likely scenario, and a 30 percent probability for the optimistic scenario. Required: a. Compute the IRR for each scenario. Compute the IRR for each scenario. Note: Do not round intermediate calculations. Round your answers to 2 decimal places