OptiLux is considering Investing in an automated manufacturing system. The system requires an Initial Investment of $5.3 million, has a 20-year life, and will have zero salvage value. If the system is Implemented, the company will save $840,000 per year in direct labor costs. The company requires a 12% return from its Investments. Compute the Internal rate of return for the proposed Investment. (Round your answer to 2 decimal places.) Internal rate of return %