Sean was evaluating the feasibility of a project that has an initial investment of $205,000 and subsequent investments of $160,000 in the 1 st and 2 nd years. From the 3rd year onwards, it will generate cost savings of $225,000 every year for 8 years. a. If the project has a terminal value of $110,000, what is the Internal Rate of Return (IRR)? % Round to two decimal places