A fertilizer company wants to create an environmentally friendly fertilizer in a new manufacturing plant.

The manufacturing plant is going to cost $81.60 million in today's dollars.

The new fertilizer is likely to produce cash flows of $24.00 million for four years, starting in one year.

The company can borrow at a rate of 8.00% to build this plant.

How much is the IRR (internal rate of return) of this project?

Enter your answer in the following format: 0.1234;

Hint: Answer is between 0.0622 and 0.0752