Friedman Company is considering installing a new IT system. The cost of the new system is estimated to be 2,250,000, but it would produce after-tax savings of $450,000 per yvear in labor costs. The estimated life of the new system is 10 years, with no salvage value expected. Intrigued by the possibility of saving $450,000 per year and having a more reliable information system, the president of Friedman has asked for an analysis of the project's economic viability. All capital projects are required to earn at least the firm's cost of capital, which is 12 percent. The present value tables provided in Exhibit 1381 and Exhibit 158.2 must be used to solve the following problems. Reguired: 1. Calculate the project's internal rate of return. Enter your answers as whole percentage values (for example, 10% should be entered as "10\" in the answer box). Between fill in the blank 1% and fill in the blank 2 % Should the compamy acquire the new IT system