(IRR of an uneven cash flow stream) Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of $5.8 million = -$5.8 million), and will produce cash flows of $3.2 million at the end of year 1, $5.9 million at the end of year 2, and $1.6 million at the end of years 3 through 5. What is the internal rate of return on this new plant? The IRR of the project is . (Round to two decimal places.)