Peterbilt is evaluating a project to buy a project to convert existing office space into a production facility. It will take 15 years to complete the project at an initial cost of $4.69M paid immediately. The office conversion is expected to yield cash flow in 15 years of $7.92M. Alternatively, Peterbilt can buy a new warehouse and set up a production for a cost of $15.39M today, this project is estimated payoff $36.91M in 13 years. Clevelands cost of capital is 18.54% assume interest is compounded semiannually Find the IRR for each project and report the higher IRR.