Esfandairi Enterprises is considering a new three-vear expansion project that requires an initial fixed asset investment of $21.0 million. This fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is expected to sell one million units each year at a price per unit of $16.50 and a cost per unit of $5.40, however actual cost and price may be 10% higher or lower than these expected values. Fixed costs will be $4 million per year. The tax rate is 21 percent and the required return on the project is 11.4 percent. What is the project's base case (expected) IRR?