Molly purchased a franchise agreement to distribute electronic gadgets for 8 years. The agreement cost $1,600,000 and she had to make investments of $875,000 for the first 2 years to set up her showroom. The franchise generated $1,050,000 in profits each year from the 1st year to 8 years afterwards. At the end of year 8, she sold the furniture in her showroom for $105,000 a. What is the Internal Rate of Return (IRR)? % Round to two decimal places b. Should she have proceeded with this plan if her cost of capital was 19%