Problem $6-7$ Project Evaluation

Your firm is contemplating the purchase of a new $$665,000$ computer$-$based order entry system. The system will be depreciated straight$-$line to zero over its $5-$year life, It will be worth $$137,000$ at the end of that time. You will save $$212,000$ before taxes per year in order processing costs, and you will be able to reduce working capital by $$152,000($this is a one$-$time reduction$).$ If the tax rate is $23$ percent, what is the IRR for this project? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$