Dinshaw Company is considering the purchase of a new machine. The invoice price of the machine is $56,463, freight charges are estimated to be $2,720, and installation costs are expected to be $7,520. The annual cost savings are expected to be $14,480 for 9 years. The firm requires a 22% rate of return. Ignore income taxes. What is the internal rate of return on this investment? (Round answer to 0 decimal places, eg. 15%) Internal rate of return %