Project Evaluation Your firm is contemplating the purchase of a new 925,000 computer-based order entry system. The system will be depreciated using reducing balance at 20 per cent per annum over its five-year life. It will be worth 90,000 at the end of that time. You will save 360,000 before taxes per year in order processing costs, and you will be able to reduce working capital by 125,000 (this is a one-time reduction). If the tax rate is 28 per cent, what is the IRR for this project?