OptiLux is considering investing in an automated manufacturing system. The system requires an initial investment of $7.0 million, has a 20-year life, and will have zero salvage value. If the system is implemented, the company will save $860,000 per year in direct labor costs. The company requires a 10% return from its investments. Compute the internal rate of return for the proposed investment. (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Internal rate of return 9.72 X %