Question $3$

$3$ pts

A small company purchased now for PhP$23,632$ will lose PhP$1,345$ each year the first four years. An additional PhP$9,215$ invested in the company at the end of the fourth year will result in a profit of PhP$5,803$ each year from the fifth year through the fifteenth year. At the end of $15$ years, the company can be sold for $35,022.$ Calculate the ERR when the MARR is $13\%.$

Present your answer in $\%.$ Round off your final answer to $2$ decimal places. For example, $0\mathrm{.}01256$ is $1\mathrm{.}26\%.$ Do not round off intermediate solutions.