Ivy's Ice Cream is looking at an opportunity that would require an investment of $900,000 today. The investment will provide cash flows of $250,000 in the first year, $400,000 in the second year, and $600,000 in the third year. What is the internal rate of return (IRR) of this investment? (Round your answer to the tenths; enter your answer as a percent.)

Please list step by step