Project L requires an Initial outlay at t=0 of $69,877, its expected cash inflows are $13,000 per year for 9 years, and its WACC is 10%. What is the project's 85 1.877, its expected cash inflows are $13,000 per year for 9 years, and its WACC is 10%. What is the project's IRR? Round your answer to two decimal places