cirice corp is considering opening a branch in another state. the operating cash flow will be 197400 a year. the project will require new equipment costing $541000 that would be depreciated on a straight line basis to zero over the 4 year life of the project. The equipment will have a market value of $143000 at the end of the project. The project requires an initial investment of $32500 in net working capital, which will be recovered at the end of the project. The tax rate is 35 percent. What is the projects IRR?