Caspian Sea Drinks is considering the production of a diet drink. The expansion of the plant and the purchase of the equipment necessary to produce the diet drink will cost $$28\mathrm{.}00$ million. The plant and equipment will be depreciated over $10$ years to a book value of $$3\mathrm{.}00$ million, and sold for that amount in year $10.$ Net working capital will increase by $$1\mathrm{.}07$ million at the beginning of the project and will be recovered at the end. The new diet drink will produce revenues of $$9\mathrm{.}08$ million per year and cost $$1\mathrm{.}63$ million per year over the $10-$year life of the project. Marketing estimates $19\mathrm{.}00\%$ of the buyers of the diet drink will be people who will switch from the regular drink. The marginal tax rate is $35\mathrm{.}00\%.$ The WACC is $10\mathrm{.}00\%.$ Find the IRR $($internal rate of return$).$

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