Exercise 24-16A IRR for automation investment LO P4 Optilux is considering Investing in an automated manufacturing system. The system requires an initial investment of $39 million, has a 20 year life, and will have zero salvage value. If the system is implemented, the company will save $520,000 per year in direct labor costs. The company requires a 11% return from its investments Compute the internal rate of return for the proposed investment (Round your answer to 2 decimal places.) Internal rate of return