Beth Dutton is considering the purchase of a ranch for $62 million today. She expects the ranch will have no cash flows (positive or negative) for the next few years. However, at the end of year 11, she expects to sell the ranch for $180 million. Ms Dutton considers the required rate of return of the project to be 8% Calculate the project's internal rate of return: % Notes on Formatting: Place your answer in PERCENTAGE form with two decimal places of accuracy. For example, if your answer is thirteen point seventy five percent, do not round that answer to fourteen percent, but instead place your answer as 13.75 and NOT as .1375.

$180 million. Ms Dutton considers the required rate of return of the project to be 8% Calculate the project's internal rate of return: % place your answer as 13.75 and NOT as .1375