A firm is undertaking a project with the following details provided. - The project costs $2.3 million and has a 7-year service life. - It generates revenues of $580,000 annually. - The project is classified as a 7-year property under the MACRS rule. - At the end of year 7, any assets for the project will be sold. The expected salvage will be 14% of the initial $2.3M project cost. - The firm will finance 29% of the project money from an outside source with an interest rate of 11%. The firm is required to repay the loan with 5 equal annual payments. - The firm's tax rate is 21%. - MARR is 16%. Given this information, compute the IRR for this project. Enter your answer as percentage rounded to the nearest tenth of a percent (i.e., 8.3% is entered as 8.3).