Kenneth was evaluating the feasibility of a project that has an initial investment of $$180,000$ and subsequent investments of $$170,000$ in the $1$st and $2$nd years. From the $3$rd year onwards, it will generate cost savings of $$245,000$ every year for $9$ years.

a$.$ If the project has a terminal value of $$80,000,$ what is the Internal Rate of Return $($IRR$)?$

$\%$

Round to two decimal places

b$.$ Should the project be accepted if the company's cost of capital is $23\mathrm{.}00\%?$