OpenSeas, Inc. is evaluating the purchase of a new cruise ship. The ship will cost $$498$ million and will operate for $20$

years. OpenSeas expects annual cash flows from operating the ship to be $$70\mathrm{.}6$ million and its cost of capital is $12\mathrm{.}3\%.$

a$.$ Prepare an NPV profile of the purchase.

The NPV profile is:

b$.$ Identify the IRR on the graph.

The approximate IRR from the graph is $\%.($Round your answer to one decimal place.$)$