Problem 10.24

Management of Great Flights, Inc., an aviation firm, is considering purchasing three aircraft for a total cost of $172,890,016. The company would lease the aircraft to an airline. Cash flows from the proposed leases are shown in the following table.

Years		Cash Flow
14		$22,205,000
57		79,410,000
810		96,050,000

What is the IRR of this project? (Round intermediate calculations to 0 decimal places, e.g. 1,251 and final answer to 2 decimal places, e.g. 15.25%.)

The IRR of this project is_____ %