A friend has invited you to help invest in a small, independent movie project. The investment will cost you $53,000 today, and your first royalty payment would begin one year later (T = 1) in the amount of $7,664. One year after (T = 2) the amount would be 2.4% lower and the annual royalty payments would continue to decline at that rate forever. What is the IRR of this investment opportunity? Express your answer in decimal format accurate and rounded to 4 decimal places. For example, if you find a standard deviation = 0.123456 or 12.3456% you should enter this as 0.1235