A firm is considering purchasing a computer system. The following data has been collected.
- Cost of the system: $152,000
- Project life: 6 years
- Salvage value at the end of year 6: $25,000
- Depreciation method: five-year MACRS
- Tax rate: 38%
- Annual revenue from project: $124,000
- Annual expenses (not including depreciation): $92,000
The firm will borrow the entire $152,000 at 6.5% interest to be repaid in 2 annual payments.
The firm's MARR is 18%. Determine the IRR for the computer system. Enter your answer as a percentage between 0 and 100.?