An investor owned mental health clinic is considering an equipment investment of $200,000. This equipment will be depreciated using a straight-line approach with a 8 year life-expectancy and $20,000 salvage in year 8. The equipment will help generate positive cash inflows each year of $62,000 over the 8 year span. Yearly cash outflows are projected to be $16,000. The nursing home pays 26% in taxes and its current cost of capital is 12%.

Reported as a percentage to two decimal places, the internal rate of return for this project would be [_________].