Your firm is contemplating the purchase of a new $$400,000$ computer$-$based order entry

system. The system will be depreciated straight$-$line to zero over its $5-$year life. It will be

worth $$33,000$ at the end of that time. You will save $$129,000$ before taxes per year in

order processing costs, and you will be able to reduce working capital by $$36,000$ at the

beginning of the project. Working capital will revert back to normal at the end of the

project. If the tax rate is $21$ percent, what is the IRR for this project?

Note: Do not round intermediate calculations and enter your answer as a percent

rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$