Jessie starts up a project that costs $120,000. She will finance $110,000 of it and pay for the rest herself. She plans to finance the money by issuing stocks and bonds. Specifically, she will finance 40% by stocks and the rest by bonds. The issuing price for stocks is $400 per share with semi-annual dividend payment of 5% of the stock price. Jessie plans to purchase back 50% of stocks after two years (right after the dividend payment) and the stock price is expected to be 1.5 times of the original price at the end of the two years. For the bonds, she plans to issue a two-year bond with quarterly coupon payments. The bond price is $550 with a face value of $580 and an annual coupon rate of 10%. The project will earn Jessie a net income of $2,800 per month at the end of each month and she plans to sell the project at a price of $150,000 after two years. Then, what is the IRR of Rebecca's investment? 22 points. Please round your answers to the nearest .01% for the IRR, and show the intermediate steps of how you solve the question.