Suppose that a project requires an investment of $32,000, and it produces a single period cash flow of $40,000. A partial table of the present value of an annuity is as follows: Year 2% 4% 6% 8% 10% 12% 14% 16% 20% 25% 1 0.98039 0.96154 0.94340 0.92593 0.90909 0.89286 0.87719 0.86207 0.83333 0.80000 What is the IRR of the project? (Round discount factor to five decimal places.) O a 25%