Global Group is considering a project that has the following cash flow and WACC data. What is the project's IRR? State in percentage terms without the percent sign symbol and round to the second decimal place. (Thus, 12.98756% would be written as 12.99 to be correct)

WACC: 12.34%

After Tax Salvage Value at end of year 4 = $200

Year 0 1 2 3 4

Cash flows -$1,600 $450 $450 $450 $450