Cirice Corporation is considering opening a branch in another state. The operating cash flow will be $$179,800$ a year. The project will require new equipment costing $$550,000$ 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 $$149,000$ at the end of the project. The project requires an initial investment of $$34,000$ 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?

Multiple Choice

$18\mathrm{.}77\%$

$13\mathrm{.}85\%$

$10\mathrm{.}70\%$

$16\mathrm{.}63\%$

$16\mathrm{.}23\%$