Management ofWildhorse, Inc., an aviation firm, is considering purchasing three aircraft for a total cost of $166,410,814. The company would lease the aircraft to an airline. Cash flows from the proposed leases are shown in the following table.

Years

Cash Flow1-4

$26,485,0005-7

77,450,0008-10

61,380,000

What is the IRR of this project?(Round answer to 2 decimal places, e.g. 15.25%.)