Due to a restricted budget, a company can only undertake one of the following projects: Project X: This project has an initial investment of $750,000 and annual profits of $425,000 in year 1,$425,000 in year 2 and $300,000 in year 3. Project Y: This project has an initial investment of $750,000 and a profit of $1,250,000 in year 3 . a. Calculate the IRR for Project X. % Round to two decimal places