HELP ME .4

Internal Rate of Return Lsun Company prodvices a variety of gardening tools and aids. The company is examining the possibility of investing in a new production system that wil reduce the costs of the current system. The new system will require a cash investment of $4,607,200 and will produce net cash savings of $800,000 per year. The 5y stem has a projected iffe of 9 years. Required: Calculate the IRR for the new production system. For discount factors use Exhibit 12 b-2. Round your answer to the nearest whole percentage