You are thinking of purchasing an office building. The projected NOI in year 1 is $800,000. The expected NOI growth rate is 3%. The going in cap rate is 8% and the terminal cap rate is 8%. Your required rate of return is 12%. You plan for a 5 year holding period. You will finance this acquision with an 80% LTV interest only loan. The interest rate on this loan will be 5%. If the realized rate of NOI growth is only 2%, how much will the project IRR change? For a increase, enter a positive value, for a decrease enter a negative value. Round your answer to two decimal places.