(IRR calculation) Determine the IRR on the following projects: a. An initial outlay of $12,000 resulting in a free cash flow of $1,851 at the end of each year for the next 11 years b. An initial outlay of $12,000 resulting in a free cash flow of $2,197 at the end of each year for the next 18 years c. An initial outlay of $12,000 resulting in a free cash flow of $1,085 at the end of each year for the next 14 years d. An initial outlay of $12,000 resulting in a free cash flow of $2,929 at the end of each year for the next 5 years a. What is the IRR of a project with an initial outlay of $12,000 resulting in a free cash flow of $1,851 at the end of each year for the next 11 years? % (Round to two decimal places.)