Internal Rate of Return (IRR): Assume that you purchase a property for $200,000 and it generates annual cash flows of $30,000 in Years 1-3; and $45,000 in Years 4 & 5. You are able to sell it at the end of Year 5 for $400,000. Calculate the IRR for this investment property.

NOTE - Enter your answer as a percentage instead of a decimal.

Ex: (1% instead of 0.01).

Round to the nearest two-decimal-places.