Byron Corp. is considering the purchase of a new plece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $101,400. The equipment will have an initial cost of $402,100 and have a 5-year life. The salvage value of the equipment is estimated to be $76,400. If the hurdle rate is 10%, what is the internal rate of return? (Future Value of $1. Present Value of $1. Future Value Annuity of $1. Present Value Annuity of $1.) (Use appropriate foctor from the PV tables. Round your final answer to the nearest dollar amount.)