In July of $2012,$ Taylor purchased $2,000$ shares of XYZ common stock for $$75,000.$ He then sold $1,000$ shares of XYZ in July of $2013$ for $$39$ per share. The remaining $1,000$ shares were finally sold for $$50$ per share in July $2014.$

$(1)$ What was Taylors internal rate of return $($IRR$)$ on this investment?

$(2)$ What was the IRR$*$ on this investment if the ERR is $8\%$ per year?