OptiLux is considering investing in an automated manufacturing system. The system requires an Intilal Investment of $6.0 million, has a 20-year life, and will have zero salvage value. If the system is Implemented, the company will save $820,000 per year in direct labor costs. The company requires a 11% return from its investments. Using Excel, compute the Internal rate of return for the proposed Investment. (Round your answer to 2 decimal places.)