Carlos owns an event venue that people rent for weddings, anniversary parties, proms, bar mitzvahs, etc. He is considering adding equipment for a day spa in an unused room and envisions groups of ladies renting the room for spa days. The cost of equipment is $$80,000$ and it will cost another $$20,000$ to get it shipped and installed. Carlos expects revenues to increase by $$45,000$ per year and to have associated expenses of $$15,000.$ Carlos is going to invest an additional $$2,500$ in working capital and expects to sell the spa along with the rest of his business in five years. The Spa equipment will be mostly worn out, but will still bring $$10,000$ at this time. The appropriate tax rate is $25\%$ and the required rate of return is $14\%.$ What is the project's IRR?