Cirice Corporation is considering opening a branch in another state. The operating cash flow will be $$173,600$ a year. The project will require new equipment costing $$589,000$ that would be depreciated on a straight$-$line basis to zero over the $5-$year life of the project. The equipment will have a market value of $$175,000$ at the end of the project. The project requires an initial investment of $$40,500$ in net working capital, which will be recovered at the end of the project. The tax rate is $22$ percent. What is the project's IRR?