One estimates that their products can be sold for an average price of $$50$ per unit, and the company analysts expect that the firm can sell $300,000$ units per year at this price for a period of five years.This company$$s management has determined that it will be possible to reduce the variable cost per unit down to $$22$ per unit by purchasing an additional option for the equipment that will raise its initial cost to $$\mathrm{.}2\mathrm{.}4$ million $($the residual or salvage value for this configuration is estimated to be $$\mathrm{.}400,000).$ The cash fixed cost per year is $$600,000.$ In addition, the firm expects to have to invest an additional $$700,000$ in working capital to support the new business. The tax rate is $30\%$ and the discount rate is $12\%.$

Calculate IRR for the above scenario