Chaquille's K-House, Inc. made an investment in a project with an initial cost of $11,068,275. This investment was for 8 years and had no residual value. The company expects to receive yearly net cash inflows of $2,604,300. Management is requiring a return of 14% on the investment. (Round your answers to two decimal places when needed and use rounded answers for all future calculations). 1. What is the IRR for the project? Is this a good investment? Present value factor of an annuity of $1 Annuity Factor =r1(1+r)n, where r= rate, and n= \# of periods. 2. Use the rate closest to the calculated Annuity PV factor that creates a positive NPV