Please do it for both projects, and also state which project should be rejected. Thanks. Will upvote.

Billabong Tech uses the internal rate of return (IRR) to select projects. Calculate the IRR for each of the following projects and recommend the best project based on this measure. Project T-Shirt requires an initial investment of $22,333 and generates cash inflows of $7,000 per year for 7 years. Project Board Shorts requires an initial investment of $36,000 and produces cash inflows of $12,000 per year for 8 years. The IRR of project T-Shirt is %. (Round to two decimal places.)