Caspian Sea Drinks is considering buying the J-Mix 2000. It will allow them to make and sell more product. The machine cost $1.56 million and create incremental cash flows of $462,497.00 each year for the next five years. The cost of capital is 9.70%. What is the internal rate of return for the J-Mix 2000?

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))