Blaylock Company wants to buy a numerically controlled (NC) machine to be used in producing specially machined parts for manufacturers of trenching machines. The outlay required is $487,114. The NC equipment will last five years with no expected salvage value. The expected after-tax cash flows associated with the project follow:

Year	Cash Revenues	Cash Expenses
1	$1,600,000	$1,400,000
2	1,600,000	1,400,000
3	1,600,000	1,400,000
4	1,600,000	1,400,000
5	1,600,000	1,400,000

Required:

Compute the Investment's Internal Rate of return. Enter as a percent. If required, round your answer to the nearest whole percent. IRR = %