Jessica has just graduated with her MBA. Rather than take the job she was offered at a prestigious investment bank- Baker, Bellingham, and Botts she has decided to go into business for herself. She believes that her business will require an initial investment of $1 million. After that, it will generate a cash flow of $100,000 at the end of one year, and this amount will grow by 4% per year thereafter. What is the IRR of this investment opportunity?