Cirice Corporation is considering opening a branch in another state. The operating cash flow will be $$164,500$ a year. The project will require new equipment costing $$607,000$ 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 $$187,000$ at the end of the project. The project requires an initial investment of $$43,500$ in net working capital, which will be recovered at the end of the project. The tax rate is $21$ percent. What is the project's IRR?

$14\mathrm{.}77\%$

$12\mathrm{.}65\%$

$15\mathrm{.}31\%$

$15\mathrm{.}25\%$

$10\mathrm{.}01\%$