Bijoy Company is analyzing a capital expenditure that will involve a cash outlay of Rs 1,04,904. Estimated Cash flows are expected to be Rs.36,000 annually for 4 years. The present value factors for an annuity of Re. 1 for 4 years at interest rate of 10%, 12%, 14%, and 15% are 3.170, 3.037, 2.914 and 2.855 respectively. The internal rate of return of this investment is ?

Please explain the answer