The agreement cost $2,400,000 and she had to make investments of $850,000 for the first 2 years to set up her showroom. The franchise generated $1,050,000 in profits each year from the 1 st year to 6 years afterwards. At the end of year 6 , she sold the furniture in her showroom for $110,000. a. What is the Internal Rate of Return (IRR)? % Round to two decimal places