Former Green Bay Packers defensive tackle, Don Davey, is considering opening a Firehouse Sub Shop in Wauwatosa, Wisconsin. The new Fireside Sub Shop will require new sandwich-grilling equipment costing $556,000 that would be depreciated on a straight-line basis to zero over the 6-year life of the project. The grilling equipment will be salvaged for $153,000 at the end of the project. The Sub Shop project requires an initial investment of $35,000 in net working capital, which will be recovered at the end of the project. The tax rate is 40%. What is the Firehouse Sub Shop projects IRR if it is expected to generate an annual operating cash flow of $132,900?