Electra Car Company is considering expansion of their production facilities. The initial costs associated with retooling a manufacturing plant, redesign, initial marketing, raw materials and other costs would be $6.75 million at the present time. The project is expected to generate only one cash flow of $13.25 million. Given the complexity of the project, the cash inflow will not be received until 8 years from now. Calculate the internal rate of return on the investment. % Place your answer in PERCENTAGE form using at least two decimal places of accuracy and without the percentage sign. For example, if your intended answer is two point seven two , then place your answer as 2.72 AND NOT AS .0272.