Bau Long-Haul, Inc., is considering the purchase of a tractor-trailer that would cost $281,660, would have a useful life of 7 years, and would have no salvage value. The tractor-trailer would be used in the company's hauling business, resulting in additional net cash inflows of $80,000 per year. The internal rate of return on the investment in the tractor-trailer is closest to (Ignore income taxes.):